Despite the recent weak price trend of Bitcoin, even dropping below $58,000 today, El Salvador remains committed to its promise, persisting in purchasing one Bitcoin (BTC) daily. According to data from BitInfoCharts, since mid-March, when the country’s President Nayib Bukele transferred the nation’s Bitcoin to a cold wallet and disclosed the address, that address has consistently added one Bitcoin each day. 
As of now, the wallet holds a total of 5,800 Bitcoins, valued at approximately $340 million. El Salvador’s regular buying plan is a policy announced by Nayib Bukele in 2022, with the country starting to purchase one Bitcoin daily since November 18, 2022. The initiation of this strategy is a significant move following El Salvador becoming the first country to adopt Bitcoin as legal tender in September 2021. In addition to direct Bitcoin purchases, the country has many other methods of accumulating Bitcoin, such as: passport sales, currency exchange, mining, and other government services. According to previous reports by Reuters, as of May 15, 2024, El Salvador has mined 473.5 Bitcoins (BTC) using the geothermal energy of the Tecapa volcano.
Are Stablecoins Primarily Used for Money Laundering? Blockchain Analysis Firm Reports 99% of Stablecoin Transactions Will Be for Legitimate Purposes in 2024.
Table of Contents Toggle Stablecoin Usage Becomes Increasingly Compliant TRM …