BTC Holdings Now At 6,000
Since making Bitcoin is legal tender In 2021, the government of El Salvador, led by President Nayib Bukele, pursued a consistent strategy of accumulating Bitcoin. This Bitcoin accumulation strategy has continued to this day and has largely paid off.
According to the latest data, El Salvador has now crossed the 6,000 BTC threshold. This makes El Salvador the third country after the United States, the United Kingdom, and held with Bhutan 6,000 Bitcoin or more.
El Salvador’s Bitcoin strategy reaches new milestone
Unlike countries like the United States and the United Kingdom, which hold Bitcoin from assets seized from criminals, El Salvador’s Bitcoin holdings were acquired through ongoing purchases. Notably, El Salvador’s thoughtful and consistent approach to building Bitcoin reserves is a cornerstone of President Bukele’s vision to transform this small Central American country into a great nation. A leader in the cryptocurrency industry.
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According to data from the official El Salvador Bitcoin Portfolio Tracker website, the country has added to its Bitcoin reserves in the past 24 hours. The price of this BTC is $94,702, essentially bringing the total holdings to 6,000.77 BTC.
Interestingly, detailed data shows that El Salvador has purchased approximately 50 BTC since the beginning of December. This increase is generally consistent with the purchase of 1 BTC per day, except for December 20 and December 22, when the purchase volume was 11 BTC.
As of this writing, El Salvador’s Bitcoin reserves are worth just over $570 million. This value has grown significantly over the past three months and is likely to grow even more in 2025. Specifically El Salvador’s Bitcoin Portfolio reach peak Valued at $643 million on December 17 When Bitcoin Price Peaked $108,135.
image From bitcoin.gob.sv
The future of El Salvador’s Bitcoin reserves
Although international organizations and financial experts were initially skeptical, over time the strategy appeared to be yielding positive results, largely thanks to the surge in Bitcoin prices this year. According to nayibtracker.com, El Salvador has currently made $157 million in profits from Bitcoin purchases, with the country purchasing 6,000 Bitcoins at an average price of $45,465.
El Salvador first purchased Bitcoin in September 2021, and it shows no signs of stopping. However, the country did it reach agreement Recent collaboration with the International Monetary Fund has reduced Bitcoin buying trends to enable access to funds. Although the agreement was reached on December 18, El Salvador doubled down on its purchase of 11 BTC just days later.
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As of this writing, Bitcoin is trading at $95,030. Technical analysis suggests cryptocurrencies are poised to reach Reach new highs by 2025, and peak price target Prices range from US$150,000 to US$1 million. This, in turn, will allow El Salvador’s Bitcoin portfolio to continue to grow in value.
Featured image via Getty Images, chart via TradingView
