Source: bitcoinist
Compiled by: Blockchain Knight
El Salvador is located in Central America and has been continuously investing in BTC, with current BTC reserves exceeding $500 million.
Recently, El Salvador purchased more BTC, increasing its holdings to over 6,000.
El Salvador's President Nayib Bukele has further solidified BTC as the country's main 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.
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 BTC assets acquired by El Salvador is $45,450 each.
El Salvador now joins the ranks of elite nations with substantial BTC reserves.
Crypto asset analyst Whale Catcher wrote in an article: "El Salvador has become the sixth country to currently hold over 6,000 BTC."
Among countries holding a large amount of BTC, El Salvador ranks behind the United States, China, the United Kingdom, Ukraine, and Bhutan, joining the elite club of governments incorporating BTC into their fiscal strategies.
Analysts indicate that historically, El Salvador typically buys one BTC every day.
However, after reaching a $1.4 billion deal with the International Monetary Fund (IMF), the country purchased $1 million 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 does not hinder the Bukele government from increasing the country's BTC holdings.
Stacy Herbert, director of the national BTC office of El Salvador, reaffirmed the government's commitment to promoting BTC investment.
Herbert recently stated in an 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 does not intend to sell its holdings.
