El Salvador Ambitious to Acquire 20 Thousand Bitcoins
@everyone
El Salvador's Senior Bitcoin Advisor Max Keiser said his country will acquire more Bitcoins, targeting 20 thousand coins, as quoted by BTC Archive on social media X, Saturday (12/21) night. This target is 3 times more than the Bitcoins El Salvador currently owns.
This target is considered quite ambitious because the Central American country still faces various challenges. One of them comes from the International Monetary Fund (IMF) which is pressuring El Salvador not to be too aggressive in implementing Bitcoin policies in its financial system.
Even so, the country is known to have pocketed a profit of up to US$165 million thanks to its ownership of 6,204 Bitcoins since 2021. Quoted from NayibTracker, the average price of El Salvador's Bitcoin is US$44 thousand, in other words, the profit has reached 116% to date.
If this plan is realized, the competition between countries to acquire Bitcoin will be even tighter. Because, there are many countries that have started collecting Bitcoin, such as Bhutan to Argentina, which have already mined using instruments owned by their countries.