With the new purchase, El Salvador now has 6,043.18 BTC.
There are bullish expectations for the market around Trump’s inauguration in the United States.
On the eve of Donald Trump’s presidential inauguration in the United States, the government of El Salvador has made another strategic purchase of bitcoin (BTC).
El Salvador bought 11 BTC last night, for which it spent more than 1.1 million dollars (USD). The purchase, which was celebrated by Salvadoran President Nayib Bukele, occurred while bitcoin was trading around USD 101,200. Furthermore, continuing with its typical strategy, it added 1 more BTC today, for a price of just over USD 106,500.
These movements occur after continuing to buy 1 BTC per day for the previous ten days. The Salvadoran government maintains this buying strategy, except on occasions where it makes larger acquisitions strategically, like yesterday.
With these new acquisitions, the Salvadoran government already owns 6,044 BTC, which today is equivalent to a total of USD 628 million. This can be seen in the following graph, which reflects their latest purchases.
Trump’s return to the White House motivates demand for BTC
Bitcoin demand larger than usual from El Salvador It occurs amid bullish expectations for the market around Trump. He, who today assumed the presidency of the United States, has promised in his campaign to include the BTC seized by the government in federal reserves.
Trump has also said that he will make the United States the “capital” of the digital asset industry. As part of this, he indicated that he would fire Gary Gensler, president of the SEC regulator, for having hindered the growth of the ecosystem. Ahead of Donald Trump, this official decided that he would resign from his position on the day of the president’s inauguration.
According to leaks to the press, Trump will launch a series of decrees on his first day in office, among which one would define collaboration with the cryptocurrency ecosystem as a national priority. With this in consideration and according to the promises of the new president, the market remains expectant of his next movements.
Given this environmentdemand for bitcoin has increased, with even El Salvador acquiring more bitcoin than those acquired in its typical purchases. This scenario caused the price of the currency to reach new historical highs above USD 108,000 today, as reported by CriptoNoticias.