Bitcoin Reserves Grow: El Salvador Buys Over 1,000 BTC in 7 Days
El Salvador has continued its Bitcoin accumulation strategy, purchasing 1,091 BTC on Tuesday, according to data from the Bitcoin Office. The transaction is valued at approximately $100 million. President Nayib Bukele posted on X that the country acquired 1,098.19 BTC over the past seven days, raising its total holdings to 7,474.37 BTC, valued at $688 million.
The government maintains its policy of buying 1 BTC per day, a strategy first announced in November 2022. El Salvador, one of the first countries to adopt Bitcoin as legal tender, continues to expand its exposure to the digital asset despite market volatility.
According to Andre Dragosch, financial analyst and Head of Research Europe at Bitwise, more sovereign states are adopting a similar approach by purchasing Bitcoin during market corrections. Officials from the Bitcoin Office previously stated that the strategy aims to strengthen the nation’s digital reserves.
During the same period, the Czech National Bank reported its first direct exposure to digital assets, purchasing Bitcoin and other cryptocurrencies worth $1 million. These developments point to a growing interest from public institutions in digital assets.
