Can Ahmet 
El Salvador has joined the ranks of countries with over 6,000 Bitcoin (BTC) in their reserves. Following the United States, China, the United Kingdom, Ukraine, and Bhutan, El Salvador has become the sixth nation to cross the 6,000 BTC milestone.
Bitcoin Purchases and Current Portfolio Value
On December 29, El Salvador purchased one more Bitcoin, bringing its total holdings to 6,000 BTC. These assets are currently valued at $569.7 million. El Salvador acquired its Bitcoin at an average price of $45,465, resulting in a remarkable 108.84% gain on their investment.
El Salvador began its Bitcoin purchasing journey on September 6, 2021, by acquiring 200 BTC. This move came shortly after it became the first country to declare Bitcoin as an official legal tender. As of today, El Salvador ranks as the sixth nation with the largest Bitcoin holdings among sovereign states.
Tensions with the IMF and New Acquisitions
The Bukele administration continued to increase its Bitcoin investments following a $1.4 billion agreement with the International Monetary Fund (IMF). After the agreement, El Salvador purchased Bitcoin worth $1 million. Despite criticism from the IMF over its Bitcoin strategy, the government has refused to backtrack on its policy.
Approval of the agreement by the IMF will conclude four years of negotiations. However, Bukele’s Bitcoin policies remain a point of contention for the IMF, which argues that they increase the country’s financial risks.
El Salvador’s actions serve as a case study for the national adoption of Bitcoin and are reshaping the role of cryptocurrency in global treasury strategies.
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