Spot Bitcoin ETF Inflows Hit $39M as BTC Approaches $58,000
Spot Bitcoin ETFs in the U.S. saw $39.02 million in inflows, led by Ark’s ARKB fund, as Bitcoin neared $58,000.
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El Salvador cold wallets purchase 1 BTC per day since March and have surged to 5,850 BTC
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El Salvador’s cold wallet has seen a notable increase in Bitcoin holdings, reaching a total of 5,850 BTC, valued at approximately $355.83 million. This surge follows a consistent buying pattern where the wallet has been acquiring 1 BTC daily since March 16.
Source: Arkham
Read more: Mysterious whale snaps up $16 million in WBTC amid ownership dispute
Daily Accumulation and Financial Impact
Over the past five months, the wallet has accumulated 160 BTC, equivalent to about $10.31 million. The current holdings represent a substantial floating profit of $93.45 million, reflecting a 35% increase from the initial investment, which was made at an average price of $44,835 per BTC.
Read more: El Salvador's huge gamble with their Bitcoin city might finally be paying off?
Strategic Investment and Policy Reaffirmation
This strategic accumulation highlights El Salvador’s ongoing commitment to its Bitcoin-backed financial policies. By increasing its Bitcoin reserves, the government demonstrates a strong stance on integrating cryptocurrencies into its economy, aiming to bolster financial stability and serve as a global example for other nations considering similar strategies.
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