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Jakarta, Pintu News – El Salvador is back in the spotlight with new estimates suggesting that the country’s Bitcoin (BTC) reserves could reach a value of $1 billion by the end of this year. President Nayib Bukele, with an enigmatic response, added to speculation about the next Bitcoin (BTC) strategy the country might take.
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El Salvador was the first country in the world to adopt Bitcoin (BTC) as a legal currency in 2021. Since then, national investment in Bitcoin (BTC) has shown a significant rise.
According to the country’s official Bitcoin Office, El Salvador currently holds 6,282.18 BTC, with a value of approximately $711 million based on the current price of $113,868 per Bitcoin (BTC). In July, when the price of Bitcoin (BTC) surged past $122,000, the portfolio value briefly reached over $760 million.
Mid-August estimates even put the value close to $770 million. This rise in value is supported by regular purchases made every week, around 8 BTC.
Read also: DeFi Dev Corp Buys Solana $77 Million, What Impact on the Market?
President Nayib Bukele often uses a relaxed tone in his communications, but behind it lies a serious strategy. His latest comments may indicate plans for further Bitcoin (BTC) purchases, strategic sales, or new Bitcoin (BTC) initiatives.
Analysts and crypto enthusiasts are closely watching Bukele’s every move, trying to predict the “funniest” move possible.
With the Bitcoin (BTC) market still on a high, many are wondering if Bukele’s next move could push the national portfolio value over the one billion dollar line before the end of the year. This shows how important El Salvador’s crypto investment strategy is.
Also read: Kevin O’Leary Launches Bitcoin ETF, Predicted Price to Reach $250,000?
Reporting from Crypto Tines, El Salvador’s Bitcoin (BTC) experiment has not only attracted attention domestically, but also become a global case study, especially in the United States. It is considered a shining example of monetary independence, risk, and innovation.
What El Salvador is doing with Bitcoin (BTC) is a highlight for many countries considering crypto as part of their economic strategy. With the eyes of the world on El Salvador, the steps taken by President Bukele will go a long way in determining the future direction of crypto on a national level.
It will also provide valuable lessons for other countries that may want to follow El Salvador’s lead in using crypto to advance their economies.
With this latest development, El Salvador continues to demonstrate its commitment to Bitcoin (BTC) as a strategic economic tool. The world will continue to watch with interest to see how this experiment will develop and what impact it will have on the global economy as well as the crypto world.
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