Summary
TLDR: El Salvador’s President Bukele reaffirmed daily Bitcoin purchases, with the country buying 1 BTC per day. Despite initial criticism, this strategy has been successful with significant profits. El Salvador will continue the strategy indefinitely. The total Bitcoin holdings, including other acquisitions, amount to 5,690 BTC valued at $387.88 million. Bitcoin whales have also been accumulating BTC, contributing to the recent price surge. MicroStrategy also finalized a debt-financed strategy to acquire more BTC.
Key Points
1. President Nayib Bukele reaffirmed El Salvador’s daily dedication to purchasing one Bitcoin.
2. El Salvador’s Bitcoin dollar-cost averaging (DCA) plan has proven to be successful, resulting in significant unrealized profits for the country.
3. Bitcoin whales have been aggressively accumulating BTC in recent weeks, contributing to the digital currency’s price surge.