El Salvador continues to buy one Bitcoin every day as promised by President Nayib Bukele to the citizens. Since the project started in November of last year, over 5,690 BTC have been acquired, bringing the total value of Bitcoin to $394 million.
Bukele’s comments confirm the general opinion. Bitcoin whales have been keen to grow their holdings during the last few weeks. Santiment’s on-chain data shows that during the previous five weeks, wallets holding between 10 and 10,000 BTC actively accumulated 154,160 BTC, which is worth $10.6 billion.
This is what Santiment’s on-chain data stated on its platform:
Moreover, whales are now hoarding, and the purchasing of bitcoin has been common during the current price surge. MicroStrategy has also successfully concluded its debt-financed goal to expand its current reserve by acquiring more than 12,000 BTC. Operationally, El Salvador is up until the moment when the price of Bitcoin drops relative to fiat money.
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