El Salvador Buys 8 BTC in a Week, Total Holdings Climb to 6,215.18 BTC
El Salvador increased its Bitcoin reserves by 8 BTC over the past seven days, bringing its total holdings to 6,215.18 BTC, worth approximately $635.7 million. The Central American nation, which adopted Bitcoin as legal tender in 2021, continues to expand its crypto portfolio despite market volatility. This latest accumulation underscores El Salvador’s commitment to long-term Bitcoin investment and contributes to the nation’s strategy of diversifying foreign reserves. Traders may interpret this activity as a sign of confidence that could support upward price momentum.
Bullish
El Salvador’s consistent Bitcoin purchases signal strong governmental confidence in BTC as a strategic reserve asset. By adding 8 BTC in a week despite price swings, the country reduces available market supply and reinforces demand. Historically, El Salvador’s accumulation rounds have coincided with positive market sentiment, as traders view sovereign buying as a bullish catalyst. In the short term, this news may boost optimism and trigger buying interest; long term, sustained state-level accumulation can underpin price floors and attract institutional attention, further stabilizing and elevating Bitcoin’s market value.