El Salvador's Bitcoin Buying Spree: On Track to Outpace Germany?
El Salvador continues to acquire Bitcoin at a steady pace, purchasing 1 BTC daily. This strategy has resulted in a substantial Bitcoin holding of 5,808 BTC, according to Glassnode.
Meanwhile, Germany has been offloading its Bitcoin reserves. The government currently holds 6,894 BTC, valued at approximately $394.50 million. This figure represents 13.8% of the total Bitcoin initially seized by the government. On July 12, Germany sold an additional 2,700 BTC, directing these funds to major exchanges and institutional deposit/OTC services.
If Germany continues its selling spree, El Salvador is poised to surpass them in Bitcoin holdings with just one more sell-off. This development raises questions about the long-term strategy of both nations and the future of Bitcoin in their respective economies.
Source: Arkham Intelligence, Glassnode
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!