- El Salvador surpasses 6,000 Bitcoins, becoming a top global holder
- The nation began buying Bitcoin in 2021 and holds over $569 million in BTC
- President Nayib Bukele led the adoption of Bitcoin as legal tender, improving financial inclusion for citizens
El Salvador has recently surpassed a huge milestone for the Latin American nation, holding over 6,000 Bitcoins for the first time in history.
On December 28, the country purchased 1 BTC, reaching its holdings above the 6,000 mark and becoming one of the largest holders of Bitcoin in the world. This latest purchase further corroborated the ambitious El Salvadoran plan of investing heavily in digital assets.
El Salvador began buying Bitcoins in 2021 when it purchased 200 BTC. As of today, the nation holds over $569 million in the world’s leading digital asset. With Bitcoin currently trading at $94,000, the dollar-cost-average for El Salvador’s BTC purchases sits at $45,465.53 — highlighting the tremendous profit the nation saw with its digital asset reserves.
The Central American nation is currently sitting at 6th place among the largest BTC holders by nation, above some of the largest economies in the world, such as Germany and Sweden. Above El Salvador are Bhutan, Ukraine, The United Kingdom, China, and The USA with its 200,000 BTC holdings.Â
Led by its President Nayib Bukele, El Salvador became the first nation ever to adopt Bitcoin as legal tender, and that measure led to a handful of benefits for its citizens. As a struggling economy in Central America, El Salvadorans began using digital wallets as an alternative to banks due to the high number of citizens who lacked access to traditional financial services.
The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
