El Salvador Continues Buying One Bitcoin Daily for 665 Days, Now Holding 5,871 Bitcoins
Publication Time:2024-09-12 16:51:07
For the past 665 days, the government of El Salvador has consistently purchased one bitcoin each day, accumulating a total of 5,871 bitcoins to date. This series of actions not only reflects the country's confidence in the cryptocurrency market but also demonstrates its long-term plan for digital assets as a reserve. Currently, the total market value of the 5,871 bitcoins held by the El Salvador government is approximately $342 million. More notably, the 3,046 bitcoins that have been publicly disclosed were purchased at an average price of $43,888 per bitcoin, indicating that the government adopted a cautious strategy early on in its purchase, thus maintaining a cost advantage over a longer period.
Bitcoin
Cryptocurrency
El Salvador
Long-term Investment
Continuous purchases