El Salvador is again 'buying the dip' - this time it's GOLD, while Bitcoin continues to be DCA-ed consistently
The current context sees many countries still debating Bitcoin, El Salvador continues to take a 'UNIQUE' path that does not resemble anyone else's
The President of El Salvador has just purchased a large amount of gold amounting to 50 million USD, bringing the total national gold reserves to around 360 million USD. A rather 'tradfi' move, defensive, preserving value.
But the story doesn't stop there.
On the same day, anyone who regularly follows Onchain on Arkham must have seen that the El Salvador government still bought exactly 1 BTC, in line with President Nayib Bukele's long-standing commitment: buying 1 Bitcoin every day, regardless of whether the price is high or low.
Mr. Bukele also reposted the announcement and wrote a very crypto sentence:
"We just bought the other dip."
As of now:
Gold has up to 360 million USD in reserves
Total 7,547 BTC, worth about 635 million USD (according to BTC price ~84k)
One side is traditional safe assets, the other side is scarce digital age assets.
El Salvador is playing a very clear game: diversifying national reserves, but still all-in on long-term faith in Bitcoin.
Whether the market is up or down doesn't matter.
The important thing is that they continue to accumulate.
What do you guys think about this strategy?
