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El Salvador joins the gold buying spree, increasing its gold reserves for the first time since 1990.
BlockBeats news, on September 8, the Central Bank of El Salvador announced the purchase of 13,999 ounces of gold on September 5, valued at 50 million USD. This increase raised its gold reserves from 44,106 ounces to 58,105 ounces, valued at 207.4 million USD. El Salvador stated that the purchase of gold is part of the country's strategy to diversify its International Reserve. The Central Bank of the country believes in gold and regards it as a global strategic asset. Previously, El Salvador had focused on increasing its holdings of Bitcoin. (Jin10)