El Salvador’s BTC Reserves Hits $370 Million as Bitcoin Price Crosses $66k

El Salvador continues to solidify its position as a leading Bitcoin-centric nation, showcasing impressive strides in both Bitcoin mining and green energy initiatives. Recent reports indicate that the country has significantly bolstered its Bitcoin reserves, with the latest figures revealing a substantial increase.

According to records, El Salvador has mined nearly 474 Bitcoins, a testament to its proactive engagement in the Bitcoin mining spree. Notably, the nation has implemented a forward-thinking strategy by harnessing the power of a volcano-powered geothermal plant for its energy needs, marking a remarkable shift towards sustainable Bitcoin mining practices.

El Salvador Doubling Down on Bitcoin (BTC) Bet

El Salvador has reached another significant milestone in its crypto journey, with the government reporting a notable increase in its Bitcoin (BTC) holdings. The official Bitcoin Office confirms that government coffers now boast 5,750 Bitcoins, showcasing a steady accumulation of the cryptocurrency.

At the time of writing, BTC is exchanging hands at $65,775, with 8.5% 24-hour rally drove its market cap above $1.25 trillion.

It’s worth noting that El Salvador made history in 2021 by becoming the first country to adopt Bitcoin as legal tender, alongside the U.S. dollar. Despite facing criticism, including from entities like the International Monetary Fund (IMF), for its embrace of the volatile cryptocurrency, El Salvador continues to forge ahead with its pioneering initiatives in the digital currency landscape.