El Salvador's Bitcoin Holdings Surge to 6,081 BTC

El Salvador's Bitcoin Reserves Grow Exponentially

By February 2025, El Salvador's Bitcoin holdings had reached an impressive 6,081 BTC, valued at approximately 583.9 million dollars at current prices. The Central American country has been actively purchasing Bitcoin, with a significant increase in its holdings over the past few weeks. The government has added 93.417 BTC to its balance sheet, buying the digital asset at an average price of 98,579 dollars. The purchases have been made in varying amounts, ranging from 1 BTC to 11 BTC per day.

El Salvador's Bitcoin strategy has been a topic of global discussion, with the government's commitment to the digital asset remaining strong despite uncertain macroeconomic conditions. The country's Bitcoin plan is not just about balancing reserves but also a part of a broader narrative and storytelling strategy. The Bitcoin story is a significant aspect of El Salvador's economic narrative.

The Bitcoin market has a distinct supply wall around the $97,000 price level, where roughly 1.88 million BTC are held. This supply wall could serve as formidable resistance for Bitcoin price if it were to begin heading in that direction. However, downside support at only $94,500 and backed by just 695,000 BTC presents a precarious imbalance that could easily tip in favor of the supply wall and against the price of Bitcoin.

Bitcoin ETFs See Continued Growth in February

Bitcoin's sustained appeal is evident in the rising number of Bitcoin exchange-traded funds (ETFs) available to investors. As of February 17, there were 10 Bitcoin ETFs on the market, reflecting the ongoing and seemingly increasing institutional interest in Bitcoin and the broader cryptocurrency space. The most recent update showed net positive inflows, with the total amount in new investments being +247 BTC (about $23.83 million). BlackRock, the world's second-largest asset management company, was one of the principal participants in these positive inflows, with its iShares Bitcoin ETF receiving 227 BTC (about $21.98 million).

The Road Ahead for Bitcoin

The future could see cryptocurrency demand and adoption levels