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 on Methanol Risks in Alcohol Amid Regional Outbreaks

Costa Rica's health officials have stepped up alerts on the dangers of methanol poisoning from contaminated alcohol, aligning with similar actions across Latin America...

Paris Louvre Robbery Targets Apollo Gallery Crown Jewels

Robbers wielding power tools scaled a furniture hoist outside the Louvre to make off with priceless jewelry from the world-renowned museum on Sunday, taking...

Tourist Numbers Dropped in Costa Rica During 2025’s First Seven Months

Costa Rica's tourism took a hit in the first seven months of 2025, with visitor numbers dropping compared to the previous year. By the...

Guatemalan Migrant Children Fear Deportation by Trump

At 15, I.B. fled poverty and an abusive father in Guatemala. She emigrated alone to the United States, like hundreds of children living in...

U.S. Strikes Drug Boat in Pacific Near Colombia, Killing Two

The United States military carried out its first strike in the Pacific Ocean against a boat suspected of drug trafficking, killing two people near...

Costa Rica U-17 Women’s Team Earns Historic Draw vs Brazil

Costa Rica's under-17 women's national soccer team marked a milestone in their history with a 1-1 draw against Brazil during the FIFA U-17 Women's...
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