El Salvador’s President Nayib Bukele reaffirmed the nation’s daily dedication to purchasing one Bitcoin.

Bukele disclosed the transaction receipt for the day’s purchase, reflecting the country’s ongoing commitment to this initiative.

One Bitcoin a Day Proving Successful

In November 2022, Bukele announced a dollar-cost averaging (DCA) plan for El Salvador. At the time, he committed to purchasing one BTC per day as part of the country’s pro-crypto policy.

Despite facing initial criticism from various international financial organizations due to the bearish performance of the crypto market at the time, the decision has proved to be a strategic success. The recent surge in Bitcoin’s value has resulted in significant unrealized profits for El Salvador.

As such, President Bukele confirmed that El Salvador will continue its Bitcoin DCA strategy indefinitely. Data shows that the country has spent over $15 million to acquire 485 BTC through this approach at an average purchase price of $30,985. As of now, this stash alone is worth more than $33 million.

“[The 1 Bitcoin a day program] continues until Bitcoin becomes unaffordable with fiat currencies,” Bukele stated. 

Read more: Who Owns the Most Bitcoin in 2024?

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Author: Oluwapelumi Adejumo

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