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It is estimated that El Salvador’s Bitcoin reserves have 6,177 BTC.
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At the time of writing, bitcoin is valued at $102,659.
Bitcoin made history. The recent rise in the price of the leading Cryptocurrency to over $100,000 pushed El Salvador’s reserves to a new record. According to data from the Nayib Bukele Portfolio Tracker website, the government accumulates a total of 6,177 BTC, whose current value exceeds USD 634 million.
This milestone marks a crucial moment for the financial policy of El Salvador, who defied global skepticism by continuing to buy bitcoin, even in times of uncertainty. The strategy of acquiring one BTC daily from November 2022 has proven to be successful. To put it in perspective: Germany dumped 50,000 BTC this yearlosing the opportunity to obtain a profit of 2 billion dollars.
Source: @nayibbukele/X
The issue of criticism is not minor. In February of this year, President Nayib Bukele published on X that, if he sold all his BTC, he would obtain a profit of more than 40%. Then, bitcoin It was trading above USD 60,000, and Bukele took the opportunity to highlight that, for a long time, the media and analysts had mocked his strategy. Since 2021, There was never a lack of voices that criticized his decisioncalling bitcoin too risky an investment for a developing economy.
At the end of 2023, El Salvador began to see the recovery of its investment, when bitcoin exceeded USD 42,000 per unit. This rally marked a turning point and demonstrated that Bukele’s strategy was finally paying off. Almost a year later, the president anticipated that I expected greater adoption among the citizens of their country, but the truth is that the benefits of their approach are broader and these types of bets require time to consolidate.
El Salvador has not stopped buying bitcoin since 2021. Source: nayibtracker.com.
The situation in El Salvador could well generate a breeding ground for more countries to follow its strategy. In fact, this is already happening and the phenomenon has been boosted by Donald Trump’s electoral victory. Without going any further, in the United States the Satoshi Action Fund is working hard to promote the creation of a strategic bitcoin reserve. In his latest effort, more than 120,000 letters have been sent to American congressmen. One of the leaders of the initiative is Dennis Porter, who has called on citizens to continue putting pressure on both Republican and Democratic politicians.
However, other countries appear unable to subscribe to bitcoin’s long-term potential. In Chile, for example, the Central Bank has flatly ruled out the idea of accumulating BTC reserves. They maintain that cryptocurrency is too risky an investment and that, in accordance with constitutional regulations, the accumulation of currencies should focus on more stable and conservative assets. This position was reported by CriptoNoticias.
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