By acquiring another BTC on Sunday, the Central American nation El Salvador led by President Nayib Bukele now owns 6000 Bitcoins worth $566.56 Million. With this move, El Salvador now joins the league of U.S., China, Ukraine, United Kingdom and Bhutan to own over 6000 Bitcoins as government treasury.
According to data sourced from The National Bitcoin Office of El Salvador, the El Salvador government purchased 1 BTC on Sunday valued at $94,686 taking their total Bitcoin tally to 6000.77 currently pegged at $566.56 Million.
The same was confirmed by data from President Nayib Bukele portfolio tracker that also witnessed an all time up of 107.53% on his Bitcoin investment.
Ever since he was elected as the president of El Salvador, President Bukele has taken radical and pro-active steps to promote cryptocurrencies with special focus on Bitcoin. Under Bukele, El Salvador became the first country in the world to make Bitcoin legal tender and on November 17, 2022, he announced that his government will purchase one Bitcoin every day.
Bukele has also promoted sustainable Bitcoin mining through use of country’s volcanic resources and even introduced plans for “renting a volcano” for mining. The Bitcoin purchase spree of Bukele government continues despite a $1.4 Billion deal with International Monetary Fund (IMF) under which a primary condition was laid that El Salvador will cutback on its BTC purchase policies.
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