El Salvador Wins Big: Bitcoin Treasury Surpasses 760 Million USD as BTC Peaks at 122,000 USD

Bitcoin has just surpassed the 122,000 USD mark, bringing the national treasury's value of #ElSalvador to over 760 million USD, nearly three times the estimated cost price of only 42,000 USD/BTC.

Since 2021, President Nayib Bukele has turned El Salvador into the first country to legalize Bitcoin and has continuously accumulated it during deep market declines. Despite pressure from the IMF and scrutiny from the U.S., Bukele has consistently gathered $BTC and even publicly rebutted criticisms, asserting that Bitcoin is the country's long-term strategy.

Currently, El Salvador holds over 6,237 BTC, becoming one of the largest state-managed crypto treasuries in the world. Experts believe this strategy will soon become a “classic case study” on how countries leverage digital assets to increase strategic reserves.

Despite facing international risks, Bukele remains steadfast: “The government has the backing of the parliament, and there is no concern about internal pressure,” according to expert Pranav Agarwal. The market is also optimistic as BTC surpasses the resistance level of 120,000 USD, opening up new targets of 124,000–125,000 USD.

Crypto always carries risks. Investors need to carefully consider before participating.