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El Salvador made headlines in June 2021 when it became the first country to adopt Bitcoin as legal tender. Since then, the country has been steadily acquiring Bitcoin through a dollar cost averaging plan, with President Nayib Bukele committing to buy one Bitcoin every day. As of November 2022, El Salvador owned 2,381 Bitcoins, purchased at an average price of around $44,300. However, the exact amount of Bitcoin the country holds is not publicly documented. Despite the initial losses and high-risk nature of the plan, a study showed that the public supported Bukele’s decision, giving him a high approval rating. Bukele himself claimed a profit of over $3.6 million in a recent tweet, although the exact details of El Salvador’s Bitcoin acquisitions remain undisclosed. The President emphasized that the country’s long-term strategy is not affected by short-term price fluctuations. As of December 5, 2023, the price of Bitcoin stood at $41,700, representing a 30% increase since June 2021. El Salvador’s known Bitcoin purchases include 400 Bitcoins in September 2021, additional purchases in the following months, and 80 Bitcoins bought in June 2022. The country had spent approximately $150 million, about 4% of its national reserves, on Bitcoin by that time.