El Salvador Bitcoin Reserves Don Climb Reach 6,258 BTC
El Salvador dem Bitcoin reserves don rise by 8 BTC dis week, bring di total Bitcoin reserves to 6,258.18 BTC (about $715 million). Dis show say dem dey keep dey add Bitcoin every week since una legalize am as legal tender for 2021. Government talk say di plan na to diversify assets, make financial system open for everybody, reduce remittance cost plus attract global crypto investment. As one of di biggest country-level BTC holders, El Salvador steady buy show say dem get beta confidence for crypto adoption. Traders suppose sabi say dis open way of building reserves fit support market mindset and make oda countries start to check sovereign crypto reserves, wey fit help stabilize price wahala.
Bullish
El Salvador dey continue to buy Bitcoin every week, e show say more government and institutions dey support BTC well well. Even though the extra 8 BTC no too much, the clear and regular buying dey create one kind price floor because e reduce how much supply dey. For short time, these buys fit help keep price steady by balancing the selling side pressure. For long run, the government keep hoarding go boost market confidence, make more institutions interested and encourage plenty people to start using am, e go make Bitcoin price look like e go rise.