El Salvador has increased its national Bitcoin reserves by 8 BTC this week, bringing its total holdings to 6,230.18 BTC, currently valued at approximately $679 million, according to the country's Ministry of Finance.
The purchase was initially disclosed by the National Bitcoin Office, reaffirming the Bukele administration’s ongoing commitment to integrating cryptocurrency into the nation’s economic framework.
Since becoming the first country to adopt Bitcoin as legal tender in 2021, El Salvador has followed a consistent buying strategy—frequently acquiring BTC during market dips. The latest purchase coincides with Bitcoin stabilizing in the $108,000–$109,000 range, suggesting a continued effort to accumulate during relatively low volatility.
Despite entering into a 2024 agreement with the International Monetary Fund (IMF) to limit public-sector Bitcoin acquisitions, the government continues its daily Bitcoin purchase program, raising questions about transparency, policy adherence, and long-term fiscal priorities.
The nation’s Bitcoin holdings have grown steadily over the years and were reportedly sitting on an unrealized gain exceeding $333 million as of late 2024. While the investment appears profitable on paper, its broader economic impact remains debated.
On the domestic front, public adoption of Bitcoin remains modest. A 2024 survey by Central American University found that only 8.1% of Salvadorans used Bitcoin for everyday transactions last year. Technical issues, including security and usability problems with the government’s Chivo wallet, have also dampened enthusiasm among citizens.
Nevertheless, President Nayib Bukele and his administration remain committed to making cryptocurrency a pillar of El Salvador’s financial system—positioning the country as a long-term believer in the digital asset revolution, even as skepticism persists at home and abroad.
July 2025, Cryptoniteuae