El Salvador, led by President Nayib Bukele, has purchased an additional 11 BTC, increasing its cryptocurrency holdings significantly. This purchase deviates from the country’s usual buying strategy and comes amid goals to secure more Bitcoin. El Salvador holds 6,022 BTC, valued at $567 million, and is eyeing discounts from potential sales by the US government.
El Salvador has made headlines once again by purchasing an additional 11 BTC, amounting to over $1.047 million, as confirmed by President Nayib Bukele via a tweet. This acquisition marks a shift from its standard buying practice of one Bitcoin per day, indicating a strategic increase in its cryptocurrency reserves.
This 11 BTC purchase is the third significant buy by El Salvador in December, following two previous acquisitions of the same amount on December 20 and December 22. The country is actively reinforcing its stance on Bitcoin, with a goal to acquire a total of 20,000 BTC, as highlighted by Max Keiser, El Salvador’s senior Bitcoin adviser.
In the last 30 days, El Salvador has purchased 62.42 BTC, surpassing its regular buying patterns by 33 BTC. President Bukele seems eager to capitalize on potential discounts in the market, especially with impending sales of Bitcoin by the US government. Buckle’s aspirations align with pro-crypto sentiments, as future US policies are expected to support further Bitcoin acquisitions.
El Salvador currently holds 6,022 BTC valued at approximately $567 million, despite a total expenditure of $145 million to amass these coins, averaging $45,641 per BTC. This strategic accumulation indicates a strong commitment to Bitcoin as the government adjusts its purchasing strategies amid global changes.
El Salvador continues to demonstrate its firm commitment to Bitcoin, with recent large acquisitions signaling a shift in its purchasing strategy. President Bukele’s desire to expand the country’s Bitcoin reserves aligns with both local aspirations to increase cryptocurrency holdings and the anticipated market opportunities arising from potential US Bitcoin sales. Overall, the nation aims to significantly increase its footprint in the cryptocurrency space, positioning itself favorably in the global market.
Original Source: thecryptobasic.com
