El Salvador Adds 8 BTC, Holdings Now Top $735M
El Salvador buys 8 more Bitcoin, raising its total to 6,236 BTC worth over $735 million.
- El Salvador added 8 BTC to its national reserves this week.
- The country now holds 6,236 BTC in total.
- Current value of its Bitcoin stash exceeds $735 million.
El Salvador continues to stay bullish on Bitcoin. This past week, the country added 8 more BTC to its treasury, bringing its total holdings to 6,236 BTC. Based on current market prices, the stash is now worth over $735 million.
This latest purchase aligns with President Nayib Bukele’s ongoing commitment to accumulating Bitcoin through the country’s “1 BTC a day” strategy. The government has been steadily adding to its reserves despite volatility in the crypto market.
A Long-Term Vision for Bitcoin
El Salvador made history in 2021 as the first nation to adopt Bitcoin as legal tender. Since then, it has maintained a strong pro-Bitcoin stance. The consistent purchases, though small in volume, are part of a long-term strategy aimed at strengthening the country’s financial sovereignty.
President Bukele has emphasized transparency in the accumulation process. A public website launched earlier this year shows real-time updates of Bitcoin purchases, offering citizens and investors a glimpse into the country’s holdings.
Impact on Global Crypto Sentiment
While 8 BTC may not seem significant on its own, El Salvador’s unwavering support sends a strong message to the global crypto community. It demonstrates how nation-states can actively participate in the decentralized finance movement.
With Bitcoin’s price hovering around recent highs, El Salvador’s Bitcoin portfolio has seen considerable growth. Whether this strategy pays off in the long run remains to be seen, but for now, El Salvador is all in on Bitcoin.
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