Discover El Salvador’s Bitcoin Strategy
El Salvador’s government has been actively purchasing 1 BTC daily since March 16. This strategic move has resulted in the accumulation of over 160 BTC in the past five months. The government’s relentless buying spree has increased the nation’s total Bitcoin holdings to 5,850 BTC, valued at approximately $355.83 million. With an average purchase price of $44,835 per BTC, El Salvador’s Bitcoin investments are currently showing a significant floating profit of $93.45 million, signifying a 35% unrealized gain.
El Salvador’s Ongoing Commitment to Bitcoin
The continuous acquisition of Bitcoin by the Salvadoran government showcases the country’s strong belief in the long-term potential of the cryptocurrency. In September 2021, El Salvador made history by becoming the first nation to adopt Bitcoin as legal tender through the enactment of the BTC law. Over time, the country has initiated various initiatives such as Bitcoin bonds, volcano-powered BTC mining, and a citizenship program associated with these investments, all while employing a strategy to build and retain its Bitcoin reserves.
El Salvador’s National Bitcoin Office Initiate Training Program
In recent developments, the National Bitcoin Office (ONBTC) of El Salvador announced its plans to educate and certify 80,000 government employees in Bitcoin-related subjects. The Central American nation has introduced a training program designed to equip public officials with knowledge about strategic Bitcoin management and policies. Termed as “Certification in Public Administration 1,” this 160-hour virtual course consists of seven modules covering various concepts, legal frameworks, skills, and management tactics related to Bitcoin’s status as legal tender.
Argentina Seeks Inspiration from El Salvador’s Bitcoin Model
El Salvador’s financial success following Bitcoin adoption has attracted the attention of other countries grappling with significant inflation issues. For instance, Argentina has turned to El Salvador to seek guidance on Bitcoin adoption and broader crypto initiatives. Representatives from the National Securities Commission of Argentina engaged with El Salvador’s National Commission of Digital Assets to gain insights into their successful Bitcoin adoption journey.
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