The government of the Pacific Coast of the Central American continental bridge has purchased nearly $ 25 million in bitcoin, President Nayib Bukele told social media. The country has thus further increased its Bitcoin reserves, which has given the cryptocurrency a boost again.
Bitcoin (BTC) has recovered, rising 4% in the 24 hours following the announcement and
Reuters reports that El Salvador’s treasury currently has an estimated 1120 bitcoin.
“Markets today strengthened by news of further state-level purchases in El Salvador which indicates that the country intends to continue buying, “said Jason Deane, an analyst at Quantum Economics.
Deane said the underlying sentiment remains extraordinary for leading cryptocurrencies, especially bitcoin.
The world’s largest cryptocurrency with market capitalization reached a historic high of around $ 66,900 on October 20, a day after the launch of the first bitcoin futures exchange-traded fund (ETF) on the New York Stock Exchange. in the United States. A week later, bitcoin fell below the $ 60,000 level before returning to that level early Thursday morning.
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