El Salvador Doubles Down on Bitcoin, Hits 916-Day Buying Streak

El Salvador's government has been consistently purchasing Bitcoin as part of its strategy to adopt cryptocurrency as legal tender, and it has made significant gains from this investment. According to recent reports, the country holds a total of 7,777 Bitcoin, worth approximately $594 million at current prices.

The average purchase price for these Bitcoins is around $55,718, resulting in an unrealized gain of about $162 million, which translates to a return of roughly 37%. This consistent buying streak has continued for 916 consecutive days since El Salvador first adopted Bitcoin as legal tender in 2021.

El Salvador's government appears to be committed to this strategy, with no signs of slowing down its daily purchases. As it approaches the milestone of holding 8,000 Bitcoins, investors and analysts will be watching closely to see how this investment continues to unfold.