No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeCentral AmericaEl SalvadorEl Salvador Boosts Bitcoin Reserves with 21 BTC on Bitcoin Day

El Salvador Boosts Bitcoin Reserves with 21 BTC on Bitcoin Day

President Nayib Bukele announced that El Salvador purchased 21 Bitcoin to mark the fourth anniversary of the country adopting the cryptocurrency as legal tender. The move brings the nation’s total Bitcoin reserves to 6,313.18 BTC, worth more than $701 million at current prices.

Bukele shared the news on X, posting a screenshot of the transaction and writing, “Buying 21 bitcoin for Bitcoin Day.” The 21 BTC, valued at around $2.3 million, fits into El Salvador’s ongoing strategy of regular purchases. In the past week alone, the government added 28 BTC to its stack.

El Salvador first made Bitcoin legal tender on September 7, 2021, becoming the first country to do so. Since then, Bukele’s administration has bought Bitcoin during price dips, treating it as a long-term asset. The latest buy comes amid Bitcoin trading near $111,000 per coin, pushing the country’s holdings into substantial unrealized gains.

The government tracks its Bitcoin through a public dashboard, showing steady accumulation. Bukele often points to profits from these holdings, with the treasury up over $200 million from initial buys. This approach contrasts with traditional reserves like gold, which El Salvador also holds.

El Salvador’s Bitcoin policy includes initiatives like the Chivo wallet for citizens and mining with geothermal energy. Adoption has grown, with businesses accepting BTC and tourists drawn to the experiment. Critics argue it adds volatility to public finances, but supporters see it as a hedge against inflation.

Bukele remains committed. He has said Bitcoin represents financial freedom for the country. With this latest addition, El Salvador shows no signs of slowing its Bitcoin buys. As prices fluctuate, the nation’s treasury continues to reflect that bet.

Trending Now

Costa Rica Warns Against Collecting Seashells to Save Ecosystems

Authorities from the Ministry of Environment and Energy (MINAE) and the National System of Conservation Areas (SINAC) have renewed their plea for residents and...

Costa Rica’s Route 32 Closed for Rock Removal Until Monday

Drivers heading to Limón face disruptions this weekend as Route 32 remains shut down for critical safety work. The Ministry of Public Works and...

Costa Rica-Amsterdam Air Link Grows with KLM’s Five Weekly Flights

KLM Royal Dutch Airlines has committed to year-round flights between Amsterdam and San José for 2026, adding five weekly services that promise to draw...

Earthquake Rattles El Salvador With No Damage Reported

A moderate earthquake struck off the coast of El Salvador on Saturday evening, sending tremors through several areas but leaving no immediate reports of...

Panama Again Delays Trial of Ex-Presidents to 2026

The trial scheduled for next week of former Panamanian presidents Ricardo Martinelli and Juan Carlos Varela over the alleged receipt of bribes from Brazilian...

Alaska Hawaiian Airlines Revise Surfboard Policy for Costa Rican Surfers

Alaska Airlines and Hawaiian Airlines have rolled out a revised baggage policy that simplifies carrying surfboards on their flights, a change that stands to...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica