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April

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Central American country, <a href="https://bitcoinist.com/el-salvador-graduates-1st-batch-of-bitcoin-students/">El Salvador</a> has realized significant profits from its extensive Bitcoin reserve. The country which previously <a href="https://bitcoinist.com/bitcoin-el-salvador-legal-tender/">accepted Bitcoin as a legal tender</a> has now made hundreds of millions of dollars in gains as Bitcoin surged past $66,000 recently.&nbsp; 
<h2 id="el-salvador-bitcoin-profits-soar">El Salvador Bitcoin Profits Soar</h2> 
<a href="https://bitcoinist.com/el-salvador-president-says-bitcoin-will-grow/">El Salvador’s audacious Bitcoin bet</a> continues to pay off as the country’s profits have risen significantly following the cryptocurrency’s surge to $66,000 on May 16, 2024. Over the past three, the country has <a href="https://bitcoinist.com/el-salvador/">aggressively accumulated</a> a staggering amount of BTC. Related Reading: <a href="https://bitcoinist.com/shiba-inu-burn-rate-91-crash/">Shiba Inu Burn Rate Suffers Scathing 91.94% Crash, What’s Happening?</a> 
Against all criticism and discouragement from the <a href="https://bitcoinist.com/el-salvador-urged-to-remove-bitcoin-as-legal-tender/">International Monetary Fund (IMF)</a>, El Salvador adopted Bitcoin as a legal tender in 2021. Since then, the country has continually <a href="https://bitcoin.gob.sv/" rel="nofollow noopener" target="_blank">increased</a> its Bitcoin reserves, acquiring the cryptocurrency by any means either through direct purchase or mining.&nbsp; 
According to El Salvador’s Bitcoin office, <a href="https://bitcoinist.com/el-salvadors-bitcoin-treasury-surpasses-350-million/">the country holds about 5,751</a> BTC valued at approximately $379 million using the current price of Bitcoin. Since 2021, the Central American country has mined a total of 474 Bitcoin worth about $29 million, embracing green energy by utilizing its <a href="https://bitcoinist.com/the-president-shows-el-salvadors-volcano-bitcoin-mining-rigs-first-steps/">volcanic geothermal energy </a>to facilitate mining activities. 
In March, when Bitcoin’s price had reached a <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-whale-217-million-profit-btc-73000/" rel="nofollow noopener" target="_blank">new all-time high above $73,000</a>, the Central American country had yielded significant profits, experiencing a slight drop when Bitcoin’s price gave up gains to trade below the $60,000 price mark. Now, with Bitcoin surging once more, the country’s profits are increasing steadily.&nbsp; 
El Salvador President Nayi Bukele, a vocal <a href="https://bitcoinist.com/bitcoin-goes-to-school-in-el-salvador/">advocate for Bitcoin,</a> has championed the cryptocurrency as a means to promote economic growth and improve financial inclusion in the country. President Bukele disclosed earlier on February 2, 2024, that the country <a href="https://bitcoinist.com/el-salvador-bitcoin-investment/">does not plan to sell its Bitcoin assets</a>. Instead, it aims to continuously incorporate more into its digital asset reserve.&nbsp; 
<h2 id="bitcoin-surges-above-65-000">Bitcoin Surges Above $65,000</h2> 
Bitcoin rose above $66,000 this week, marking the first time since April 24, 2024. The pioneer cryptocurrency has recorded a 6.74% increase over the past 24 hours and is presently trading at $65,993.&nbsp; 
Following the <a href="https://www.newsbtc.com/news/bitcoin/fourth-bitcoin-halving-completed/" rel="nofollow noopener" target="_blank">Bitcoin halving</a> event on April 20, the cryptocurrency experienced a <a href="https://bitcoinist.com/bitcoin-price-suffers-sharp-decline/">massive downturn</a>, giving back the majority of its gains made from its rally in March. At the time, Bitcoin’s skyrocketing value was driven by the soaring demand of <a href="https://bitcoinist.com/spot-bitcoin-etf-flows-flip-gold-capital-rotation/">Spot Bitcoin ETFs</a>.&nbsp; 
According to crypto analyst, Ali Martinez, the crypto market is still very early, <a href="https://x.com/ali_charts/status/1790767366650974440?s=46" rel="nofollow" target="_blank">highlighting</a> that Bitcoin was just 25 days post Bitcoin halving and suggesting that the cryptocurrency could surge even higher once <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-bearish-60k/" rel="nofollow noopener" target="_blank">bearish sentiment </a>diminishes. 
Presently, Bitcoin’s daily trading volume has experienced a significant upward momentum, highlighting the growing interest from investors and crypto traders in the industry. The cryptocurrency’s 24-hour trading volume of approximately $42.3 billion has risen by more than 70.27%. Additionally, its overall <a href="https://www.newsbtc.com/news/bitcoin/1-3-trillion-bitcoin-market-cap-sets-new-record-all-time-high/" rel="nofollow noopener" target="_blank">market capitalization</a> has jumped by more than $1.3 trillion, marking a daily increase of 6.56%.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/fVmPhjVY/" alt="Bitcoin price chart from Tradingview.com (El Salvador)" width="3286" height="1576">

El Salvador’s Bitcoin Reserves Grow As BTC Price Surges – Here’s How Much The Country Holds

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