El Salvador Bitcoin holdings hit all time high

El Salvador’s government now holds Bitcoin valued at over $150 million, a significant increase from its initial investment. Since approving Bitcoin as legal tender in 2022, the country’s holdings have surged, boosted by President Nayib Bukele’s decision to purchase 1 BTC daily. With approximately 2,380 BTC accumulated at an average price of $44,300, the recent market peak saw the value rise to $164.7 million, representing a 53% profit. Bukele criticized media coverage of the government’s economic policy, highlighting the potential profit and emphasizing the country’s reliance on its citizenship program for BTC. Despite being a pioneer in adopting a “Bitcoin standard,” no other nations have officially followed suit. However, experts like Samson Mow anticipate more nation-states, alongside corporations and institutional buyers, embracing Bitcoin in the future. Mow emphasized the influx of price-insensitive buyers contributing to Bitcoin’s upward trajectory but cautioned readers that investments involve risks, advising independent research before making decisions.

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