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Tether, El Salvador Deepening Ties To Gold, The 'Natural Bitcoin'
Read with caution - this story is only being covered by one news source that has a ‘low factuality’ rating, which means the outlet has a history of poor reporting practices. Learn more about factuality ratings here.5 Articles
5 Articles
The nation spent about $50 million to acquire more than 58,000 ounces of gold, in what seems like a clear movement to support the country’s finances against the volatility seen in Bitcoin’s price. *** The government acquires gold for the first time in 35 years, with an investment of $50 million. The measure seeks to balance Bitcoin’s volatility with an active traditional refuge. El Salvador projects itself as a pioneer in digital innovation and …
El Salvador Buys Nearly $50M in Gold to Diversify Reserves, Offset Bitcoin Risk - CryptoShrypto
In a significant shift toward financial diversification, El Salvador has acquired 13,999 ounces of gold worth nearly $50 million, its first such purchase since 1990. The move is widely seen as a strategy to stabilize its reserve portfolio, which has become heavily weighted toward Bitcoin in recent years. The purchase was confirmed by El Salvador’s central bank in a social media post on Wednesday, raising the country’s total gold reserves to 58,1…
Day by Day News El Salvador–The Central Reserve Bank (BCR) announced the acquisition of 13,999 troy ounces of gold in the international markets, a transaction valued at approximately $50 million. With this purchase, El Salvador increases its holdings from 44,106 to 58,105 troy ounces, equivalent to approximately $207.4 million. This is the first purchase of this metal made by the institution since 1990. Each troy ounce is equivalent to 0.031103 …
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