President Bukele Added 21 Bitcoin to El Salvador’s BTC Holdings Bringing Total to 6,313.18 BTC Wo...

President Bukele added 21 Bitcoin to El Salvador’s BTC holdings

This brings the country’s total holdings to 6,313.18 BTC worth $702 million.

The purchase was made on Bitcoin Day as a tribute to BTC.

President Bukele added 21 Bitcoin to El Salvador’s BTC holdings bringing the country’s total BTC holdings to 6,313,18 BTC worth $702 million. This purchase was just revealed by President Bukele who confirms that the 21 BTC purchase was made as a tribute to Bitcoin for Bitcoin Day. This adds to the historic significance of Bitcoin Day which is celebrated on May 22, also known as Bitcoin Pizza Day

President Bukele Adds 21 Bitcoin to El Salvador’s BTC Holdings

The crypto community is reeling over the casual revelation from the President of El Salvador, Nayib Bukele. In detail, Bukele revealed that on the historic Bitcoin Day, as a tribute to BTC, El Salvador, under Bukele’s leadership, went on to purchase 21 Bitcoin (BTC), and added it to its already impressive BTC holdings. A strategy the country has steadily been following since 2020 when BTC was made a legal tender.

Since then, El Salvador has been diligently accumulating Bitcoin (BTC), giving it a much longer head start compared to other entities who have been accumulating BTC. In fact, El Salvdor’s bold and visionary move is what inspired entities like Michael Saylor’s Strategy to begin its own BTC accumulation plan. El Salvador even used the geothermal power of its volcanoes to ethically mine BTC.

After the bull market of the previous bull cycle, El Salvador used its profits to improve the state of its country. It brought about better infrastructure, built a pet hospital, and accomplished many feats using BTC gains. The country has also been steadily accumulating BTC before the new bull phase of the ongoing bull cycle began. So much so that the other entities like the International Monetary Fund (IMF) have been trying to hinder more BTC accumulation by El Salvador

El Salvador Now Holds 6,313.18 BTC Worth $702 Million

Despite its efforts, El Salvador continues to accumulate more BTC. As we can see from the post above, El Salvador’s President Bukele reveals that the country bought 21 Bitcoin for Bitcoin Day. To highlight, Bitcoin Day, also known as Bitcoin Pizza Day, is remembered every May 22, when the crypto community celebrates the day a Bitcoin miner, Laszlo Hanyecz, made history by purchasing two pizzas for $10,000 BTC, making one of Bitcoin’s earliest real-world purchases.

This brought the country’s BTC treasury holdings to a total of 6,313.19 BTC, bringing the total value to $702 million. Responses to the post show concern over a massive BTC supply shock coming soon. Already, several reputed crypto analysts spoke of a possible BTC supply shock that could arrive soon, as more and more entities enter the market to accumulate BTC at a heavy and aggressive pace