According to data obtained from blockchain analytics platform Arkham Intelligence, an address referred to as the “El Salvador government cold wallet” currently holds 5,851 Bitcoins, with a market value of approximately $356.4 million.

The wallet’s flow chart shows that one Bitcoin has been received every day since March 16. The last purchase was made a few hours ago, at a cost of $60,500. However, on some days the wallet appears to be processing Bitcoin purchases of less than $100.

These small purchases can be part of the wallet’s strategy to collect Bitcoin regularly.

Crypto analyst EmberCN notes that the average cost of El Salvador’s Bitcoin holdings is approximately $44,835. This puts the country’s potential profit on Bitcoin investments at approximately $93.45 million.

This suggests that El Salvador is seeing a significant return on its Bitcoin investments and that the country’s strategy to manage these digital assets is successful.

El Salvador President Nayib Bukele’s promise regarding Bitcoin purchases includes buying one Bitcoin every day until the cryptocurrency becomes “unaffordable”. On the day the purchases began, El Salvador moved 5,689 BTC to the cold wallet, and the value of these assets at that time was calculated as $ 386 million.

Bukele described this wallet as the country’s first “Bitcoin piggy bank” and explained that they took this step to bring more transparency to Bitcoin ownership. It was also stated that they created a mempool area to control Bitcoin ownership.

Bukele’s government has proposed trading with Russia using cryptocurrencies. El Salvador floated the idea as a way to get around sanctions imposed on Russia by the United States and its allies.

Because these sanctions severely restrict Russia’s access to USD, it becomes difficult to trade with countries that accept the US dollar as their national currency, such as El Salvador. Presenting Bitcoin as an alternative in this context is considered an important step in El Salvador’s international trade strategy.

Bitcoin gained 0.8% in the last 24 hours and 5.1% in the last seven days. Its market cap has surpassed $1.2 trillion, accounting for more than 53% of the value of the entire crypto market.

This significant increase in value of Bitcoin shows how effective El Salvador’s cryptocurrency strategies and Bitcoin investment are. These developments reinforce El Salvador’s vision for digital currencies and its influence in international cryptocurrency markets.