El Salvador now has over 6,000 bitcoins, reaching the milestone after adding another bitcoin on December 29.
Bitcoin in the country (Bitcoin) The treasury now stands at 6,000.77 BTC, worth approximately $561.3 million according to National Bitcoin Office Wallet Tracker.
The latest purchase continues El Salvador's steady accumulation strategy. The wallet showed an increase of 19 BTC over the past week and 53 BTC over the past month, worth $1.77 million and $4.95 million respectively.
This methodical approach has proven profitable, with Bitcoin investments in the country showing unrealized gains of 105% based on an average acquisition cost of $45,465.
Cryptocurrency trip in El Salvador
El Salvador made history on September 6, 2021, when it became the first country to adopt cryptocurrency as legal tender. The country started with an initial purchase of 200 bitcoins.
Since then, the country has maintained a consistent acquisition strategy. This includes the recent $1 million purchase following a major $1.4 billion agreement with the International Monetary Fund.
President Nayib Bukele's administration has remained steadfast in its Bitcoin strategy despite initial skepticism from international financial institutions, especially the International Monetary Fund.
The government's daily Bitcoin purchasing program has made El Salvador the sixth largest holder of Bitcoin among countries. The country has joined the ranks of major world powers, including the United States, China and the United Kingdom.
The country's Bitcoin wallet has gained significant value during the recent recovery in the cryptocurrency market. The value of the country's property now amounts to more than half a billion dollars.
Through its National Bitcoin Office, El Salvador continues to expand its cryptocurrency initiatives. According to data received from Nayib Al-MuttalibThe country's BTC stock now has an unrealized gain of $152 million.
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