Today marks the third anniversary of El Salvador’s adoption of BTC as legal tender. Three years ago, on September 7, 2021, Bitcoin became legal tender in El Salvador. The country’s goal is to promote financial inclusion, facilitate more efficient remittance payments, and attract financial innovation. President Bukele’s decision to adopt Bitcoin makes the country a historic crypto asset pioneer.
El Salvador has been buying Bitcoin using dollar-cost averaging since 2021, buying 1 per day, and purchasing its current holdings at an average cost price of $43,877 per Bitcoin. According to the El Salvador Ministry of Finance website, the country currently holds a total of 5,865 Bitcoins, worth more than $318 million, with a profit of $31 million.
