5-7-2025 – Salvador has added eight Bitcoin to its national reserves over the past week, bringing its total holdings to 6,228.18 coins, valued at approximately $674 million, according to the National Bitcoin Office. The acquisition, part of the country’s ongoing strategy to accumulate one Bitcoin daily, underscores its commitment to cryptocurrency despite international scrutiny.
Since adopting Bitcoin as legal tender in 2021, El Salvador, led by President Nayib Bukele, has steadily expanded its reserves, positioning the nation as a global leader in state-backed cryptocurrency adoption. The recent purchase, aligns with Bukele’s vision of leveraging Bitcoin to diversify the country’s financial portfolio and hedge against traditional market risks.
However, the strategy has faced criticism from the International Monetary Fund (IMF), which secured a $1.4 billion loan agreement with El Salvador in December 2024, urging limited public-sector Bitcoin accumulation. The increase in holdings comes amid Bitcoin’s volatile market performance, with prices recently hovering around $108,000 per coin. While El Salvador’s investments have yielded significant unrealized gains—estimated at over $350 million—the country’s low adoption rate, with only 8% of Salvadorans using Bitcoin for transactions, raises questions about its broader economic impact.