El Salvador Marks Bitcoin Day with Fresh 21 BTC Purchase

El Salvador bolstered its digital gold reserve today by acquiring 21 Bitcoin to commemorate the fourth anniversary of recognizing BTC as legal tender. The purchase underlines President Nayib Bukele’s unwavering commitment to Bitcoin, even amid IMF pressure and market volatility.

Today’s symbolic buy reinforces El Salvador’s branding as “Bitcoin Country” and coincides with Bitcoin Day, the anniversary of the 2021 law that made BTC legal tender alongside the US dollar. As of this acquisition, the nation’s total holdings stand at 6,313 BTC, valued at over $700 million, according to government figures.

Nut Graf

By marking Bitcoin Day with a fresh purchase, El Salvador aims to demonstrate the resilience of its crypto strategy and shore up public confidence in digital assets. The move comes days after a contentious $50 million gold purchase that rattled crypto purists and amid IMF calls to halt state-led crypto initiatives.

Strategic Reserve Growth

  • President Bukele announced the buy on X, highlighting the government’s ongoing dedication to digital gold.
  • Since March 2024, El Salvador has averaged one BTC purchase per day, despite IMF loan conditions.

Quantum-Safe Diversification

  • To guard against future cryptographic threats, authorities recently redistributed the reserve across 14 new addresses.
  • The government’s Bitcoin Office underscores the use of volcanic geothermal energy for eco-friendly mining operations initiated in 2021.

International and Financial Context

  • The IMF has repeatedly urged El Salvador to cease crypto purchases, citing financial risks and transparency concerns.
  • El Salvador counters that daily buys are verifiable and integral to its economic identity, maintaining that Bitcoin underpins long-term fiscal sovereignty.

Next Steps

El Salvador plans to expand Bitcoin adoption in public services and education, with ongoing training programs for civil servants and partnerships to develop Lightning Network infrastructure. The government also eyes legal frameworks to support digital-asset markets and fintech innovation, further embedding BTC into national policy.