El Salvador's President Nayib Bukele has announced plans to increase the country's Bitcoin holdings to $1 billion. Currently, El Salvador holds over 5,700 BTC, valued at more than $400 million. This move reaffirms the nation's commitment to Bitcoin, which became legal tender in 2021, and aims to enhance its financial sovereignty.
The announcement has been positively received by the crypto community, viewing it as a bullish signal for Bitcoin and broader crypto adoption. El Salvador's strategy may encourage other emerging economies to consider alternatives to traditional financial systems.
El Salvador Targets $1 Billion in Bitcoin Holdings
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