El Salvador’s Bitcoin Stock Surpasses 6,000 BTC, Valued at $569M

El Salvador now holds over 6,000 Bitcoin, valued at $569.3 million. This move places the country alongside global Bitcoin leaders like the United States and China. Under President Nayib Bukele, El Salvador is showing a strong commitment to Bitcoin, using it as a key asset in its economic strategy.

Strategic and Consistent Bitcoin Acquisitions

El Salvador’s Bitcoin holdings now stand at 6,000.77 BTC. The country made a recent purchase of 1 BTC on December 29, bringing its total investment to a 108.02% gain. 

Since adopting Bitcoin as legal tender in September 2021, the government has followed a consistent strategy of acquiring Bitcoin. 

With each new purchase, the government strengthens its position in the global cryptocurrency market. Bitcoin has now become an integral part of the nation’s treasury strategy, supporting El Salvador’s financial stability and growth.

Commitment Amidst Criticism

Despite facing criticism from international bodies like the IMF, El Salvador has remained unwavering in its commitment to Bitcoin. A $1.4 billion agreement with the IMF is still pending approval. 

In fact, Director of the National Bitcoin Office, Stacy Herbert, hinted at accelerating Bitcoin purchases in the future. The government has also made it clear that there are no plans to sell any of its Bitcoin holdings.

El Salvador now boasts the sixth-largest Bitcoin reserve among countries, cementing its role as a pioneer in cryptocurrency adoption. This bold approach continues to define the nation’s economic strategy as it navigates the future.