El Salvador Achieves 6,000 Bitcoin Mark with 105% Portfolio Growth
El Salvador has surpassed the 6,000 Bitcoin mark, achieving this milestone after acquiring an additional BTC on December 29.
The nation’s Bitcoin reserves now total 6,000.77 BTC, with an estimated value of $561.3 million based on the National Bitcoin Office’s portfolio tracker.
This recent acquisition reflects the country’s ongoing strategy of gradual accumulation. Over the past week, the portfolio has grown by 19 BTC, valued at $1.77 million, and by 53 BTC over the past month, worth $4.95 million.
El Salvador’s strategic approach to Bitcoin investment has yielded impressive results, with an unrealized return of 105%, based on an average acquisition cost of $45,465 per Bitcoin.
On September 6, 2021, El Salvador made history as the first country to adopt Bitcoin as legal tender, beginning its journey with an initial purchase of 200 BTC.
Since then, the nation has consistently added to its holdings, including a recent $1 million acquisition following a significant $1.4 billion agreement with the International Monetary Fund (IMF).
President Nayib Bukele’s administration has remained committed to its Bitcoin strategy despite initial skepticism from global financial institutions like the IMF. This dedication has propelled El Salvador to become the sixth-largest Bitcoin holder among nations, joining the ranks of global powers such as the United States, China, and the United Kingdom.
El Salvador’s Bitcoin portfolio has significantly increased in value during the recent market recovery, now exceeding half a billion dollars. Managed through the National Bitcoin Office, the country’s cryptocurrency initiatives continue to grow. According to Nayib Tracker, El Salvador’s BTC holdings now reflect an unrealized gain of $152 million.
