Salvador celebrated the fourth anniversary of its Bitcoin Act with a symbolic purchase of 21 BTC, even though analysts warned that September 8 is often unfavorable for cryptocurrency.
In short
- The Salvador bought 21 BTC during Bitcoin Day, increasing its reserves despite the IMF loan restrictions on new purchases.
- Analysts warn that September 8 is historically lower for Bitcoin, with losses in 72 % of the years spent.
- Microstrategy Michael Saylor has suggested additional BTC purchases, strengthening the role of the company as a proxy of Wall Street.
Salvador buys 21 BTC to commemorate Bitcoin Day
On September 7, President Nayib Bukele announced on X that Salvador had bought 21 BTC. At current market prices of around $ 111,175 per room, the transaction is estimated at around $ 2.3 million.
The decision coincided with the anniversary of the adoption of Bitcoin as a legal currency by the country in 2021, an initiative which made Salvador the first nation to formally integrate Bitcoin into its economy. The symbolic purchase referred to the fixed bitcoin offer at 21 million parts.
The country's Bitcoin office also published a press release to mark the occasion. “Salvador celebrates Bitcoin Day! The Bitcoin office has been proud to build a Bitcoin country for three of the four years since Salvador has made bitcoin a legal currency. indicated the post.
Despite this public celebration, the purchase drew attention due to the conditions of $ 1.4 billion loan from the International Monetary Fund signed in December 2024. The agreement required the government to stop buying bitcoin with public funds and limits the crypto services supported by the state. However, Bukele’s announcement suggested a continuous accumulation of digital assets despite these restrictions.
Market skepticism and historic seasonality risks
While Bukele reiterates Salvador's long -term commitment, analysts warned that September 8 is historically a low trading day for Bitcoin. Timothy Peterson, author of “Metcalfe's Law as a Model for Bitcoin's Value”, explained this seasonal scheme.
On average, Bitcoin increases 53 % of the time each day, with an average gain of +0.10 %. On the other hand, September 8 was negative 72 % of the time, with an average loss of -1.30 %. Peterson also pointed out that when September 8 ended down, all month ended up in 90 % of cases.
This trend has led certain market observers to suggest caution despite festive events. Reports indicate that more than $ 10 billion in short positions on bitcoin could be liquidated if the asset rises to $ 117,000. This created a tension between long -term bullish positions and short -term trading risks.
Microstrategy Michael Saylor announces an additional purchase
Commemoration has also coincided with a renewed interest from the main Bitcoin corporate holders. Michael Saylor, co -founder and executive president of Microstrategy, has suggested new purchases. Although he did not give specific figures, the investors interpreted his declaration as a sign that the company was going to increase its already significant assets.
Microstrategy is known to be the largest Bitcoin corporate holder, with more than 636,000 BTC. The acquisitions funded by the company's debt have often aroused both praise and criticism. The veteran of the Hedge Funds Fred Krueger commented that the microstrategy approach should not be considered as a Ponzi system, responding to public concerns about its leverage strategy.
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