This article is available in Spanish.
Since making Bitcoin is legal tender in 2021, the government of El Salvador, led by President Nayib Bukele, has followed a consistent strategy to accumulate Bitcoin. This Bitcoin accumulation strategy, which has largely paid off, has continued until now.
According to recent data, El Salvador has now crossed the 6,000 BTC threshold. This makes El Salvador the sixth country behind countries such as the US, Great Britain, and Bhutan to hold 6,000 BTC or more.
El Salvador’s Bitcoin Strategy Hits a New Milestone
Unlike countries like the US and Britain, whose Bitcoin holdings come from seized assets from criminals, El Salvador’s Bitcoin holdings have been consistently purchased. In particular, El Salvador’s deliberate and consistent approach to building a Bitcoin reserve has been a cornerstone of President Bukele’s vision to establish the small Central American country as a leader in the crypto industry.
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According to data from the official website of El Salvador’s Bitcoin portfolio tracker, the country added another BTC to its reserve in the past 24 hours. This BTC was purchased for $94,702, essentially bringing the total holdings to 6,000.77 BTC.
Interestingly, a detailed look at the data shows that El Salvador has purchased around 50 additional BTC since the beginning of December. This growth was largely consistent with the purchase of 1 BTC per day, except for December 20 and 22, which were highlighted by the purchases of 11 BTC.
At the time of writing, El Salvador’s Bitcoin supply is worth just over $570 million. This value has grown tremendously in the past three months and could grow even further in 2025. Specifically, El Salvador’s Bitcoin wallet reaches a peak value from $643 million on December 17 when the Bitcoin price peaked $108,135.
Image from bitcoin.gob.sv
Prospects for El Salvador’s Bitcoin Stash
Despite initial skepticism from international organizations and financial experts, this strategy appears to have yielded positive results over time, largely due to Bitcoin’s price increase this year. According to data from nayibtracker.com, El Salvador currently has $157 million in profit from its Bitcoin purchases, after purchasing its 6,000 BTC at an average price of $45,465.
The first Bitcoin purchase in El Salvador took place in September 2021 and currently shows no signs of stopping anytime soon. However, the country did reach an agreement recently worked with the IMF to scale back its Bitcoin purchasing trends in order to secure financing. Although this deal was made on December 18, El Salvador doubled down and bought another 11 BTC just days later.
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At the time of writing, Bitcoin is trading at $95,030. Technical analysis suggests the cryptocurrency is on its way to achieving this new highs in 2025, of highest price targets ranging from $150,000 to $1 million. This, in turn, will ensure that the value of El Salvador’s Bitcoin portfolio continues to grow.
Featured image from Getty Images, chart from TradingView