Source: bitcoinist
Compiled by: Blockchain Knight
El Salvador is located in Central America and has consistently invested in BTC, with current BTC reserves exceeding 500 million dollars.
Recently, El Salvador purchased more BTC, increasing its holdings to over 6000.
El Salvador President Nayib Bukele has further solidified BTC's position 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 6000.77 BTC, with its Crypto asset treasury reaching 569.3 million dollars.
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 has now joined the ranks of elite countries with substantial BTC reserves.
Crypto asset analyst Whale Catcher wrote in an article: "El Salvador has become the sixth country to hold over 6000 BTC."
Among the countries holding a large amount of BTC, El Salvador ranks after the United States, China, the United Kingdom, Ukraine, and Bhutan, joining the government elite club that incorporates BTC into their financial strategy.
Analysts state that historically, El Salvador typically buys one BTC per 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 a single day and repeated this massive purchase on December 22.
El Salvador is the first country to announce 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 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 will not deter the Bukele government from increasing the country's BTC holdings.
Stacy Herbert, director of the El Salvador National BTC Office, reiterated the government's commitment to promoting BTC investment.
Herbert stated in a recent 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 has no plans to sell its holdings.
