El Salvador now has over 6,000 Bitcoin and has reached this milestone after adding another BTC on December 29th.
The country’s Bitcoin (BTC) treasure currently stands at 6,000.77 BTC, which is worth about $561.3 million, according to the National Bitcoin Office’s portfolio tracker.
The recent purchase continues El Salvador’s steady accumulation strategy. The portfolio saw an increase of 19 BTC in the last week and 53 BTC in the last month, worth $1.77 million and $4.95 million, respectively.
This systematic approach has proven profitable: the country’s Bitcoin investments show an unrealized gain of 105% return based on average acquisition costs of $45,465.
El Salvador’s Crypto Journey
El Salvador made history on September 6, 2021 when it became the first country to adopt cryptocurrencies as legal tender. The country started with an initial purchase of 200 BTC.
Since then, the country has pursued a consistent acquisition strategy. This includes its recent $1 million purchase following a significant $1.4 billion deal with the International Monetary Fund (IMF).
President Nayib Bukele’s government has remained steadfast on its Bitcoin strategy despite initial skepticism from international financial institutions, particularly the IMF.
The government’s daily Bitcoin purchasing program has helped El Salvador become the sixth-largest Bitcoin holder among nations. The country has joined the ranks of major world powers, including the United States, China and the United Kingdom.
The country’s Bitcoin portfolio has increased…
