The value of El Salvador’s cryptocurrency assets has increased by millions as a result of the most recent market rise. BTC is getting closer to $90,000, which has led to significant increases in El Salvador’s Bitcoin holdings.
El Salvador’s Bitcoin has experienced a substantial increase in value as the crypto markets continue to rise. Bitcoin reached a new high of $89,700 on November 12, according to statistics. This brought the cryptocurrency’s total market value closer to $2 trillion.
The two nations’ Bitcoin holdings saw large gains as a result of the big price rise. In only one week, the value of El Salvador’s assets grew by more than one hundred million dollars as a direct result of the recent jump in the price of Bitcoin.
Arkham Intelligence, a company that tracks blockchain data, estimates that El Salvador’s Bitcoin holdings were worth around $402 million on November 5th. Its holdings reached a staggering $523 million on the 12th of November, as the market continued to rise to new highs.
The adoption of Bitcoin as a form of legal money took place in El Salvador on September 7, 2021. During that period of time, the nation made its debut investment in the asset by purchasing around 200 Bitcoins. In the time since then, the nation has progressively grown the amount of land it owns. According to the statistics provided by Arkham Intelligence, El Salvador now has around 5,900 Bitcoin.
