- El Salvador buys Bitcoin dips during the week
- They buy 1 BTC daily and have reached 6,118.18 BTC in reserves
El Salvador buys Bitcoin dips throughout the week, with a short break on March 13, but recovered on March 14 and reached 6,118.18 BTC in its reserves.
El Salvador Purchases – Continuously Buying Bitcoin Dips
Overall, we continue to see consistent implementation of El Salvador’s Bitcoin prioritization and accumulation strategy, with daily purchases of 1 BTC over the past week.
While it’s worth noting that we saw a small gap in purchases on March 13, El Salvador bought 2 BTC on March 14, neatly filling this and bringing its reserves to 6,118.18 BTC worth ~$509,051,203.
As you can see from the valuation, these purchases are still occurring at a time of notable downside, namely the average value of each Bitcoin purchased this week varied between ~$83K and $84K.
And from the point of view of their accumulation these are quite good conditions, so much so that at times we even saw El Salvador buying 5 and 7 BTC at once.
Taking into account that almost 24 hours have passed since the last purchase, it is likely that another one will be waiting for us very soon. It is most likely to be 1 BTC again, but we can’t rule out that this will be one of those cases when El Salvador will buy more than one BTC at a time.
Conclusion
The largest crypto project on a national scale is still going strong, and we are watching its dynamics closely, paying tribute to how unambiguous its stance and consistent strategy is.
Could that strategy change at any moment? Of course, it can. But in general, we see El Salvador sticking to it carefully for quite a long time and that’s why it doesn’t make big breaks in purchases and doesn’t make huge purchases even in times of favorable conditions like now.
Stay tuned for updates and be aware of the rapidly evolving financial and crypto landscape.
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