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El Salvador Cold Wallet Surges with 5,850 BTC!

Key Points:

The El Salvador cold wallet has purchased 1 BTC daily since March 16, totalling 160 BTC.
The government’s BTC reserves now stand at 5,850 BTC, valued at around $355.83 million, with an average cost of $44,835.
The government enjoys a floating profit of $93.45 million, marking a 35% increase in value from its initial investment.

According to on-chain analyst EmberCN, the El Salvador cold wallet address has been buying 1 BTC daily since March 16.

Source: Arkham

El Salvador Cold Wallet Accumulates 160 BTC Daily

This incredible streak has continued for over five months, racking up 160 BTC, which equates to about $10.31 million.

The El Salvador cold wallet address’s total BTC holdings increased significantly to 5,850 BTC, resulting in a value approaching about $355.83 million at the time of publication. This further investment has been made with a mean price for BTC of $44,835.

Government’s Floating Profit Hits $93.45M

This means that the government’s BTC position has built an impressive floating profit of about $93.45 million, representing an increase of about 35% from its original investment. That strategic accumulation reaffirms El Salvador’s commitment to its Bitcoin-backed financial policies and a larger vision of a country that allows cryptocurrencies to be integrated into the economy on official grounds.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.