El Salvador purchased $569 million worth of BTC and currently holds more than 6,000

El Salvador is located in Central America and has been continuously investing in BTC. Its current BTC reserves have exceeded US$500 million.

Recently, El Salvador has purchased more BTC, increasing its holdings to over 6,000.

El Salvador’s President Nayib Bukele has further solidified BTC’s status as the country’s primary treasury asset by strengthening the country’s BTC reserves.

The move shows that El Salvador has incorporated Crypto assets into its treasury management strategy.

The National BTC Office’s portfolio tracker shows that with this purchase, El Salvador has accumulated a total of 6,000.77 BTC, bringing its crypto treasury assets to $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 portfolio tracker, El Salvador purchased BTC assets at an average price of $45,450 per coin.

El Salvador now joins the elite group of countries with massive BTC reserves.

“El Salvador has become the sixth country to now hold more than 6,000 BTC,” crypto asset analyst Whale Catcher wrote in a post.

Among countries holding significant amounts of BTC, El Salvador ranks behind the United States, China, the United Kingdom, Ukraine, and Bhutan, joining an elite club of governments that have incorporated BTC into their fiscal strategies.

Analysts say that historically, El Salvador typically purchases one BTC per day.

However, the country bought $1 million worth of Crypto assets in a single day after reaching a $1.4 billion deal with the International Monetary Fund (IMF), 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 purchased 200 Crypto assets for the first time, and the country began to adopt BTC.

Since then, the Central American country has strengthened its Crypto asset holdings despite the IMF’s request that the country slow down BTC activity.

El Salvador’s BTC reserve strategy may be criticized by the international community, but this will not prevent the Bukele government from increasing the country’s BTC holdings.

Stacy Herbert, director of the El Salvador National Bitcoin Office, reiterated the government’s commitment to promoting Bitcoin investment. Herbert stated in a recent article: “El Salvador will continue to purchase Bitcoin for its Bitcoin strategic reserve.”

The government of El Salvador clarified that it will continue to acquire BTC and does not intend to sell its holdings.