Source: bitcoinist
Compiled by: Blockchain Knight
El Salvador, located in Central America, has been continuously investing in BTC, and its current BTC reserves have already exceeded $500 million.
Recently, El Salvador has purchased even more BTC, increasing its holdings to over 6,000.
El Salvador's President Nayib Bukele has further consolidated BTC's position as the country's primary 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 portfolio tracker of the National BTC Office shows that through this purchase, El Salvador has accumulated a total of 6,000.77 BTC, with its Crypto asset treasury assets reaching $569.3 million.
The data shows that the newly acquired BTC has increased El Salvador's Crypto asset investment by 108.02%.
According to the country's BTC investment portfolio tracker, the average price paid by El Salvador for the BTC assets is $45,450 per BTC.
El Salvador has now joined the elite group of countries with massive BTC reserves.
Crypto asset analyst Whale Catcher wrote in an article: "El Salvador has become the sixth country to hold over 6,000 BTC."
Among the countries holding large amounts of BTC, El Salvador ranks behind the United States, China, the United Kingdom, Ukraine, and Bhutan, joining the government elite club that has incorporated BTC into its fiscal strategy.
Analysts say that historically, El Salvador typically purchases 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 declare BTC as legal tender.
On September 6, 2021, the Salvadoran government made its first purchase of 200 Crypto assets, and the country subsequently adopted BTC.
Since then, despite the IMF's request for the country to slow down its BTC activities, this Central American nation has continued to strengthen its Crypto asset holdings.
El Salvador's BTC reserve strategy may face criticism from the international community, but this will not prevent the Bukele government from increasing the country's BTC holdings.
Stacy Herbert, the director of El Salvador's National BTC Office, reiterated the government's commitment to driving BTC investments.
Herbert stated in a recent article: "El Salvador will continue to purchase BTC for its BTC strategic reserves."
The Salvadoran government has clarified that it will continue to acquire BTC and has no plans to sell the BTC it currently holds.
