Bitcoin
El Salvador increases Bitcoin holdings to 6000, eyes BTC strategic reserve
Posted:
Journalist
- El Salvador BTC holdings crossed 6K coins.
- The country’s top BTC Office executive expects more purchases in 2025.
El Salvador’s Bitcoin [BTC] stash hit 6000 as the country aims to accelerate its BTC strategic reserve plans in 2025.
In 2021, under the pro-crypto president Nayib Bukele, the nation made BTC a legal tender and unveiled a plan to increase its stash, including an ambitious goal of buying one BTC per day.
Data from the nation’s Bitcoin office showed that the goal has crossed 6K BTC. Now, the stash is worth over $560M, and the state isn’t done with the accumulation spree.
Source: El Salvador’s Bitcoin Office
More BTC in 2025?
On the 19th of December, Stacy Herbert, the head of the National Bitcoin Office, stated the country would stack more to ramp up its BTC strategic reserve. She stated,
“El Salvador is still stacking Bitcoin into its Strategic Bitcoin Reserve. And this is just the beginning. We have a lot in store for 2025.”
Interestingly, the United States is also expected to create a BTC reserve in 2025. So, next year could be a defining moment for BTC and nation-state adoption. Currently, El Salvador ranked sixth in nation-state adoption of BTC.
Source: Bitbo
The US topped the charts with over 200K BTC, and China followed with 194 K. Bhutan, Ukraine, and the UK each have over 10K BTC.
However, El Salvador’s BTC accumulation spree has elicited strong resistance from the IMF. Until recently, the country decided to chart its separate financial path after the IMF withheld loans citing its risk exposure to BTC.
The IMF has since shown a soft stance on the condition that the country discontinues its national BTC wallet Chivo.
But that hasn’t deterred Bukele’s administration from buying more BTC. El Salvador bought over $1M worth of BTC immediately after the IMF agreement.
