El Salvador has maintained its practice of purchasing Bitcoin as a national reserve asset because current market conditions keep showing weak performance according to on-chain data which reports another 1 Bitcoin transfer to government affiliated wallets that occurred within the last 12 hours.
The latest transfer comes as Bitcoin remains under pressure, pointing to a steady accumulation strategy rather than short-term reaction to price moves.
According to Arkham’s blockchain data El Salvador has shown consistent Bitcoin purchasing behavior through its small-scale acquisitions which it has maintained throughout the last several weeks. The buying activity appears consistent across different price levels, which indicates that the buyers follow a planned strategy instead of making efforts to time their purchases.
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Steady 1 BTC purchases
The on-chain transaction data indicates that users make repeated purchases of 1 Bitcoin through their transactions. The El Salvador government has received 1 Bitcoin through multiple wallet transactions during the last two weeks according to transaction records which show these transfers.
The transfers occurred at different price levels which ranged from mid-$70,000s to high-$80,000s based on the dollar values shown at the time of each transaction. The new transaction which took place about 12 hours ago brought 1 Bitcoin that had a market value near $76,000. The system recorded similar purchases which occurred two days ago and four days ago and throughout different times during the previous week.
The Treasury balance continues to increase. El Salvador has 7,552.37 Bitcoin as its total Bitcoin holdings according to the treasury dashboard. The stash currently holds a market value of approximately $577 million.
