El Salvador has added eight more Bitcoin to its national reserves over the past week, bringing its total holdings to 6,228.18 BTC, valued at approximately $674 million, according to the country’s National Bitcoin Office. The latest acquisition is part of President Nayib Bukele’s ongoing “one Bitcoin per day” strategy, reaffirming the country's long-term commitment to Bitcoin despite continued international scrutiny.
Since becoming the first country to adopt Bitcoin as legal tender in 2021, El Salvador has steadily increased its crypto reserves, aiming to diversify its financial portfolio and reduce reliance on traditional markets. President Bukele has framed the Bitcoin initiative as a forward-looking hedge against global economic instability.
“We’re not just buying Bitcoin—we’re building a new economic foundation,” Bukele has previously stated.
El Salvador’s Bitcoin strategy hasn’t been without critics. The International Monetary Fund (IMF)—which finalized a $1.4 billion loan deal with the country in December 2024—has urged caution, warning against excessive public-sector crypto investments. The IMF cited potential fiscal risks and urged a more restrained approach to Bitcoin accumulation.
Still, the nation’s gamble appears to be paying off, at least on paper. With Bitcoin prices hovering near $108,000 per coin, the country is sitting on unrealized gains estimated at over $350 million.
While the government’s Bitcoin portfolio grows, domestic adoption remains limited. Only about 8% of Salvadorans reportedly use Bitcoin for day-to-day transactions, raising questions about the broader economic impact of the initiative.
Critics argue that without significant public uptake, the strategy may remain symbolic rather than transformative. Meanwhile, the government continues to promote Bitcoin through educational programs, tourism campaigns, and international partnerships.
Conclusion:
El Salvador remains at the forefront of state-level Bitcoin adoption, pushing ahead with its accumulation plan despite market volatility and international pressure. Whether this bold experiment will lead to lasting economic transformation or prove a cautionary tale is still to be seen—but the world is watching.
July 2025, Cryptoniteuae