El Salvador has reached a major milestone in its cryptocurrency journey by expanding its Bitcoin holdings to over 6,000 BTC, resulting in a $569 million increase in treasury assets. This latest achievement positions the Central American nation as the sixth-largest sovereign holder of Bitcoin globally.
The National Bitcoin Office of El Salvador reported that the country added one Bitcoin on December 29, bringing its total holdings to 6000.77 BTC, valued at approximately $569.3 million. According to the Nayib Bukele portfolio tracker, the nation's Bitcoin investments have yielded a 108.02% return, with an average purchase price of $45,450 per Bitcoin.
El Salvador's Bitcoin journey began on September 6, 2021, when it made history as the first country to declare Bitcoin as legal tender, starting with an initial purchase of 200 BTC. Since then, the country has maintained a steady acquisition strategy, typically purchasing one Bitcoin daily.
The country's commitment to cryptocurrency remains unwavering, even in the face of International Monetary Fund (IMF) concerns. Following a recent $1.4 billion agreement with the IMF, El Salvador proceeded with additional Bitcoin purchases, demonstrating its dedication to its digital asset strategy. Stacy Herbert, Director of El Salvador's National Bitcoin Office, announced on December 19 that the country plans to accelerate its Bitcoin acquisition pace.
During a diplomatic meeting with Chinese Ambassador Zhang Yanhui, Vice President Félix Ulloa Jr. highlighted the positive impact of Bitcoin adoption, declaring that it has transformed El Salvador into a symbol of financial independence. The Vice President confirmed that the country's Bitcoin reserves now exceed 6,217 BTC, with a value surpassing $500 million.
El Salvador's position in the global Bitcoin holdings ranking places it behind the United States, China, the United Kingdom, Ukraine, and Bhutan, marking its growing influence in the cryptocurrency space and its pioneering role in national digital asset adoption.