Bitcoin rallies have increased the value of El Salvador's holdings as they continue to prove that assets are investments familiar to Central America's smallest country.
President Nayib Bukele shared a screenshot from Sunday. Bitcoin The holdings were worth more than $644 million, following an increase of 30 BTC last month.
The total goes back slightly since then. Approximately $637 millionBitcoin National Office in El Salvador says its stash has expanded more $137 million The past 30 days.
The boost comes when Bitcoin begins flirting on Sunday at its highest ever. Easy to touch $106,500 Before settling at $103,172, according to Coingecko data.
“Bitcoin is rallying due to a combination of macro relief, a strong ETF influx and growing expectations that the Fed will maintain policy flexibility as economic data is alleviated,” Bitfinex analysts shared in a memo. Decryption.
El Salvador continues to quietly accumulate Bitcoin despite its protection $1.4 billion IMF loan In December, public sector crypto involvement had to be rolled back, calling for the removal of Bitcoin's statutory bid status.
The country's Bitcoin office, technically outside the definition of the fiscal sector, continues to do that.1 bitcoin per day“Acquisition policy.
“When it comes to El Salvador, let me say we continue to adhere to the non-accumulation commitment of Bitcoin by the entire fiscal sector,” said Rodrigo Valdes, director of the IMF Western Hemisphere. last month.
Stay here
Bukel is by his side It is maintained The policy is here.
“All this stops in April.” “This stops in June.” “All this stops in December.” No, it's not stopping,” he wrote to X in March.
said Vedang Vatsa, founder of Hashtag Web3 Decryption The profits warned that digital assets could boost national wealth, but widespread adoption remains limited.
“As these ambitious economic ideas, when combined with a broader general engagement and a roadmap to long-term stability, they work best,” he said.
While returns are noteworthy, Vatsa said “financial profits are just part of the story,” and that the country's alliance with the IMF points to a “more measured approach.”
El Salvador currently holds 6,181 BTC, tracks the US, China, UK, Ukraine and Bhutan according to Bitcoin's Treasury Department, and holds 6,181 BTC. data. Other countries are watching carefully, with some already taking action.
Changpeng “CZ” Zhao, former CEO of Binance, said last month that he Advising governments around the worldPro Bono, on how to build a national crypto sanctuary.
“We're talking to many countries,” Zhao recommends setting up wallet solutions and cold storage for state-owned assets.
edit Sebastian Sinclair
