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El Salvador invests an additional $50 million in gold. Does this shake the dollar-cost averaging strategy for Bitcoin?
The Central Bank of El Salvador announced the purchase of 50 million USD worth of physical gold, increasing the country’s total gold reserves to approximately 360 million USD (about 67,403 ounces). Combined with its holdings of 618 million USD in Bitcoin, this constructs nearly 1 billion USD in non-sovereign asset reserves.