El Salvador Buys Over 160 New Bitcoins
According to news reports on Friday, a Salvadoran government-owned cold wallet has been buying one bitcoin every day since March 16, adding about 162 new coins to the country’s bitcoin holdings since then! The latest transaction was made several hours ago at a cost of $60,500
The reports, citing blockchain analytics platform Arkham Intelligence, indicated that the Salvadoran government wallet currently holds about 5,851 bitcoins with a market cap of $356.4 million.
Also, the reports indicated that there have been several days where the El Salvador wallet has made small purchases of bitcoins worth less than $100.
The purchases are part of a promise by Salvadoran President Nayib Bukele to buy one bitcoin every day, and on the day El Salvador began buying, it moved about 5,689 bitcoins into a cold storage wallet, with holdings then worth $386 million. Bukele described the wallet as the country’s first bitcoin piggy bank.
