El Salvador has solidified its position as a global leader in cryptocurrency adoption by amassing over 6,000 Bitcoin (BTC) as part of its national treasury. Under President Nayib Bukele’s administration, the country now holds 6,000.77 BTC, valued at approximately $569.3 million (as of December 2024).
El Salvador Expands Its Bitcoin Portfolio
According to the National Bitcoin Office, El Salvador recently acquired an additional 1 BTC, pushing its total holdings to 6,000.77 BTC. The government’s average purchase price of $45,450 per Bitcoin reflects a 108.02% unrealized gain—a testament to its long-term investment strategy.
Key milestones:
- September 6, 2021: First Bitcoin purchase, preceding its historic adoption as legal tender.
- Daily acquisitions: Consistent purchases of 1 BTC/day, supplemented by larger buys (e.g., a $1 million purchase on December 22, 2024).
👉 Why Bitcoin adoption is accelerating globally
Bitcoin Holdings Among Nation-States
El Salvador ranks as the sixth-largest national holder of BTC, trailing the U.S., China, U.K., Ukraine, and Bhutan. Data from BitBo’s Bitcoin Treasuries highlights the growing trend of sovereign BTC accumulation.
Despite pressure from the IMF to curb Bitcoin initiatives, El Salvador remains committed. A $1.4 billion IMF deal remains pending final approval, with negotiations ongoing due to concerns over volatility risks.
Future Plans and Challenges
Stacy Herbert (Director, National Bitcoin Office) confirmed:
- No plans to sell BTC holdings—Bitcoin remains central to financial strategy.
- Potential accelerated purchases if market conditions favor accumulation.
- The Chivo wallet (state-sponsored) may be phased out, with private wallets taking precedence.
FAQs
Q: Why does El Salvador buy Bitcoin daily?
A: To dollar-cost-average its investments and reinforce Bitcoin’s role in its economy.
Q: How does the IMF view El Salvador’s Bitcoin policy?
A: The IMF urges caution, citing financial risks, but negotiations continue.
Q: What’s the future of the Chivo wallet?
A: It may be discontinued, with private wallet solutions expected to dominate.
👉 Explore Bitcoin’s role in national economies
Conclusion
El Salvador’s 6,000+ BTC reserve underscores its pioneering stance in crypto adoption. While challenges like IMF scrutiny persist, its strategic acquisitions and unwavering policies set a benchmark for other nations.
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