According to the latest data from the Salvadoran Ministry of Finance as of December 29, 2024, El Salvador's Bitcoin holdings have increased to 6,000.77 coins, with a total value exceeding $569 million. In the past 7 days, El Salvador has added 19 Bitcoins, and in the past 30 days, it has added 53. Max Keiser, the senior Bitcoin advisor to President Nayib Bukele, revealed that the president has increased the daily Bitcoin purchase amount, with a medium-term goal of acquiring another 20,000 Bitcoins.
Globally, BlackRock's Bitcoin holdings have reached 552,555 coins, showing its importance attached to Bitcoin. BlackRock points out that Bitcoin is different from traditional assets, with the 'seven giants' of the US stock market making up about 1%-2% of investment portfolios, exceeding this range will significantly increase risk levels. In the long term, the risk of Bitcoin may decrease, and investors may use it as a tool to hedge specific risks, similar to gold.
According to Blockware's 'Basic Situation', if the government and enterprises continue to embrace Bitcoin, the price target will be $225,000. If policies, market adoption rates, and interest rate easing fully cooperate, 2025 will witness a historic leap for Bitcoin, hitting unprecedented bull market highs. The latest data shows that net inflows into Bitcoin ETFs in 2024 reached $36.8 billion, which is 81 times that of gold ETFs, and the traditional safe-haven asset gold seems to have 'faded away', as Bitcoin is dominating global capital flows with great force.
Despite the bright prospects, risks also exist. Alex Thorn, head of research at Galaxy Digital, expressed skepticism, believing that the US government will not actively purchase Bitcoin before 2025. El Salvador's aggressive accumulation and BlackRock's massive holdings, along with strong inflows into Bitcoin ETFs, collectively depict a great earthquake of capital flows, indicating the immense potential of the cryptocurrency market and the strong momentum for future development.
