El Salvador is the first country to declare BTC as legal tender.
Source: bitcoinist
Translation: Blockchain Knight
El Salvador, located in Central America, has been continuously investing in BTC, with its current BTC reserves exceeding 500 million dollars.
Recently, El Salvador has purchased more BTC, increasing its holdings to over 6,000.
El Salvador's President Nayib Bukele has further solidified BTC's position as the country's primary treasury asset by strengthening the nation's BTC reserves.
This move indicates that El Salvador has incorporated Crypto assets into its treasury management strategy.
The national BTC office's portfolio tracker shows that through this purchase, El Salvador has accumulated a total of 6,000.77 BTC, with its Crypto asset treasury reaching 569.3 million dollars.
Data shows that the newly acquired BTC has increased El Salvador's Crypto asset investment by 108.02%.
According to the country's BTC portfolio tracker, the average purchase price of the BTC acquired by El Salvador is 45,450 dollars per coin.
El Salvador now joins the elite countries with substantial BTC reserves.
Crypto asset analyst Whale Catcher wrote in an article: "El Salvador has become the sixth country to hold over 6,000 BTC."
Among the countries holding large amounts of BTC, El Salvador ranks behind the United States, China, the United Kingdom, Ukraine, and Bhutan, joining the elite club of governments that have incorporated BTC into their fiscal strategy.
Analysts state that historically, El Salvador typically purchases one BTC per day.
However, after reaching a 1.4 billion dollar deal with the International Monetary Fund (IMF), the country purchased 1 million dollars worth of Crypto assets in one day and repeated this massive purchase on December 22.
El Salvador is the first country to declare BTC as legal tender.
On September 6, 2021, the El Salvador government made its first purchase of 200 Crypto assets, after which the country began adopting BTC.
Since then, despite the IMF's request for the country to slow down its BTC activities, this Central American nation has strengthened its Crypto asset holdings.
El Salvador's BTC reserve strategy may face criticism from the international community, but this will not deter the Bukele government from increasing the country's BTC holdings.
Stacy Herbert, director of El Salvador's national BTC office, reiterated the government's commitment to promoting BTC investment.
Herbert stated in a recent article: "El Salvador will continue to purchase BTC for its strategic reserves."
The El Salvador government clarified that it will continue to acquire BTC and has no intention of selling its holdings of BTC.
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