El Salvador adds nearly $25 million in bitcoin to state coffers, says president

FILE PHOTO: A sign reads, "Bitcoin accepted here", outside a store where the cryptocurrency is accepted as a payment method in San Salvador, El Salvador September 24, 2021. REUTERS/Jose Cabezas/File Photo

SAN SALVADOR (Reuters) - The Salvadoran government acquired 420 more bitcoin on Wednesday, President Nayib Bukele announced on social media, as the Central American doubled down on its splashy cryptocurrency experiment.

The latest purchase of bitcoin, worth nearly $25 million at current prices, marks the first government acquisition of the cryptocurrency since Sept. 20, when Bukele said it had bought 150 bitcoins.