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Since made Bitcoin is legal tender In 2021, the government of El Salvador, led by President Nayib Bukele, pursued a consistent strategy for accumulating Bitcoin. This Bitcoin accumulation strategy has continued, and has largely paid off, to date.
According to recent data, El Salvador has now crossed the 6,000 BTC threshold. This makes El Salvador the sixth largest country after the likes of the United States and the United Kingdom. And Bhutan to keep it 6000 Bitcoin or more.
Bitcoin strategy in El Salvador reaches a new stage
Unlike countries like the US and the UK, whose bitcoin holdings come from assets seized from criminals, El Salvador’s bitcoin holdings have been through consistent purchases. Notably, El Salvador’s deliberate and consistent approach to building its Bitcoin reserve has served as a cornerstone of President Bukele’s vision to establish the small Central American nation as a leading nation. Industry leader in encryption.
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According to data from El Salvador’s official Bitcoin wallet tracker website, the country has added another Bitcoin to its reserve in the past 24 hours. BTC was acquired at a price of $94,702 bringing the total holdings to 6,000.77 BTC.
Interestingly, a detailed look at the data shows that El Salvador has purchased about 50 additional Bitcoins since the beginning of December. This growth was mostly consistent with 1 BTC purchased each day, with the exception of December 20 and 22, which were highlighted by 11 BTC purchases.
At the time of writing, El Salvador’s Bitcoin stock is worth just over $570 million. This value has grown significantly in the past three months and could grow even more in 2025. Especially the Bitcoin wallet in El Salvador. The peak value has been reached $643 million on December 17 When the price of Bitcoin reached its peak at $108,135.
image From bitcoin.gob.sv
Forecast for a Bitcoin cache in El Salvador
Despite initial skepticism expressed by international organizations and financial experts, this strategy appears to have yielded positive results over time, largely due to the rise in Bitcoin prices this year. According to data from nayibtracker.com, El Salvador currently generates $157 million in profits from its Bitcoin purchases, having purchased 6,000 Bitcoin at an average price of $45,465.
The first Bitcoin purchase was made in El Salvador in September 2021 and currently shows no signs of stopping soon. However, the country did Reach an agreement Recently with the International Monetary Fund to curtail Bitcoin buying trends so it can secure financing. Although this agreement was concluded on December 18, El Salvador redoubled its efforts and purchased another 11 Bitcoins just days later.
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At the time of writing, Bitcoin is trading at $95,030. Technical analysis indicates that the cryptocurrency is on its way to arriving New highs by 2025 with Peak price targets Ranging from $150,000 to $1 million. This, in turn, will allow the value of a Bitcoin wallet in El Salvador to continue to grow.
Featured image from Getty Images, chart from TradingView
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