El Salvador crosses 6,000 Bitcoin milestone with latest purchase, portfolio up 105%
El Salvador now holds more than 6,000 Bitcoin, reaching this milestone after adding another BTC on Dec. 29.
The country’s Bitcoin (BTC) treasury now stands at 6,000.77 BTC, valued at approximately $561.3 million according to the National Bitcoin Office’s portfolio tracker.
The latest purchase continues El Salvador’s steady accumulation strategy. The portfolio has shown an increase of 19 BTC over the past week and 53 BTC over the last month, worth $1.77 million and $4.95 million, respectively.
This systematic approach has proven profitable, with the nation’s Bitcoin investments showing an unrealized gain of 105% return based on an average acquisition cost of $45,465.
El Salvador’s crypto journey
El Salvador made history on Sept. 6, 2021, when it became the first country to adopt cryptocurrency as legal tender. The country started with an initial purchase of 200 BTC.
Since then, the nation has maintained a consistent acquisition strategy. This includes the recent $1 million purchase following a significant $1.4 billion agreement with the International Monetary Fund (IMF).
President Nayib Bukele’s administration has remained steadfast in its Bitcoin strategy despite initial skepticism from international financial institutions, particularly the IMF.
The government’s daily Bitcoin purchase program has contributed to making El Salvador the sixth-largest Bitcoin holder among nations. The country has joined the ranks of major global powers, including the United States, China, and the United Kingdom.
The country’s Bitcoin portfolio has gained substantial value during the recent cryptocurrency market recovery. The country’s holdings are now worth over half a billion dollars.
Through its National Bitcoin Office, El Salvador continues to expand its cryptocurrency initiatives. According to the data from Nayib Tracker, the country’s BTC stash is now worth an unrealized gain of $152 million.
