El Salvador Increases Bitcoin Reserves to 6,354.18 BTC
El Salvador has continued its Bitcoin accumulation strategy, adding 8 BTC over the past week and raising its total Bitcoin reserves from 6,338.18 to 6,354.18 BTC, now valued at approximately US$678.7 million. This sovereign purchase underscores El Salvador’s long-term confidence in its Bitcoin reserves and reinforces its crypto policy amid global market volatility. The sustained increase in Bitcoin reserves highlights ongoing institutional demand, which may support BTC prices by reducing available supply and signaling broader adoption of Bitcoin as a national reserve asset.
Bullish
El Salvador’s addition of 8 BTC to its national reserves signals a bullish stance on Bitcoin, as sovereign demand can tighten supply and boost market sentiment. In the short term, this purchase may create upward price pressure by reducing available BTC and reinforcing confidence among traders. Long-term, sustained accumulation by a nation-state underscores institutional trust and could encourage further adoption, stabilizing and potentially elevating Bitcoin’s market value over time.