According to the latest data online, the Salvadoran government has been steadily accumulating 1 Bitcoin per day for the past five months. This has added 160 BTC to their holdings.
Data from Arkham Intelligence, shared by analyst Ember CN, showed that Salvador has not missed buying 1 Bitcoin every day for the past five months. This dedication has added 160 Bitcoin to their BTC holdings.
El Salvador Buys 1 BTC Every Day Since March 16
Ember CN mentioned in X’s post that the government’s cold wallet has not passed a single bitcoin every day since March 16th.
According to Arkham, El Salvador’s cold wallet currently contains 5,851 BTC. The value of their Bitcoin holdings was around $355.4 million at the time of publication, based on the current BTC market price. The average purchase price is $44,835, with a floating profit of $93.45 million (+35%).
The Salvadoran government has been relentlessly buying up BTC despite Bitcoin’s volatile price movements. CoinMarketCap data shows Bitcoin was trading at $69,000 on March 16.
In the following days, the price rose to $71,000 before falling to a low of $49,000 earlier this month. However, like Michael Saylor, the government stuck to its plan to collect 1 BTC per day.
El Salvador Announces Bitcoin Certification for 80,000 Government Employees
El Salvador is the first country to legalize Bitcoin. The law legalizing BTC came into effect on September 7, 2021. Since BTC became legal tender, the government has been trying to use various ways to promote the largest cryptocurrency.
The country also has a volcanic-fueled geothermal power plant that operates a Bitcoin mining rig. Earlier reports in May showed that El Salvador had mined more than 474 Bitcoins since 2021.
Now the country has announced plans to train 80,000 government employees on Bitcoin. The country’s National Bitcoin Office (ONBTC) has announced this Bitcoin training and certification program. In addition, they are also planning to introduce Bitcoin education in schools. The new program is a 160-hour class that is divided into seven modules.
Despite the recent volatility in the Bitcoin price, El Salvador has stepped up its BTC strategy.
