El Salvador Hits 6,000 BTC Accumulated After 3+ Years of DCA

With over 6,000 BTC in reserve, El Salvador is now the 6th largest Bitcoin holder in the world, behind the United States, China, the United Kingdom, Ukraine, and Bhutan.

On December 29, the Salvadoran government under President Nayib Bukele purchased another 1 Bitcoin, officially bringing the country's total BTC holdings to 6,000.77 BTC.

🇸🇻El Salvador has just stacked its 6,000th bitcoin! pic.twitter.com/uS7Gqi5bUq

— The Bitcoin Office (@bitcoinofficesv) December 28, 2024

With a strategy of buying 1 BTC per day, El Salvador is currently recording a return of over 106.02% on the country’s Bitcoin investment, accumulating 6,001.77 BTC (worth approximately $562.69 million) as of December 30 at an average purchase price of just $45,481 per coin.

El Salvador’s Bitcoin DCA journey began in September 2021, when the country became the first in the world to recognize Bitcoin as legal tender. The initial purchase of 200 BTC not only marked a major milestone but also laid the foundation for the long-term Bitcoin accumulation strategy pursued by the administration of President Nayib Bukele.

Since then, El Salvador has implemented a policy of buying one Bitcoin per day, which has been maintained for over 3 years, affirming the strong commitment of the government to the king coin. Currently, El Salvador is the 6th largest Bitcoin holder in the world, after the United States, China, the United Kingdom, Ukraine and Bhutan.

El Salvador ended a memorable 2024 by reaching the milestone of 6,000 BTC in its national reserves. This was a brilliant year for El Salvador's Bitcoin investment strategy, culminating in a profit of over 300 million USD after BTC set a historic ATH of 100,000 USD. Not stopping there, this Central American country also boldly approved the issuance of Bitcoin bonds, while attracting an investment of 1.6 billion USD for the plan to build a "Bitcoin city" at the two seaports of Acajutla and La Union

However, El Salvador is facing pressure from the International Monetary Fund (IMF), forcing this Central American country to adjust its policies, narrowing the scope of Bitcoin usage such as discontinuing the Chivo wallet, only using USD to pay taxes and not requiring BTC payments to access a 1.3 billion USD loan from the IMF, paving the way for other potential loans from the World Bank (WB) and the Inter-American Development Bank (IDB) in the future.

In addition, the level of Bitcoin acceptance in the country is still limited. In an interview with TIME magazine on August 29, President Nayib Bukele of El Salvador frankly admitted that although Bitcoin has brought many significant benefits to this small Central American country, the level of acceptance among the people has not yet met his expectations.