SAN SALVADOR — El Salvador continues to acquire Bitcoin for its strategic reserves and has 6,134 Bitcoins with a current economic value of about $519.1 million—$84,622 per coin at today’s prices.
The National Bitcoin Office of El Salvador (ONBTC) published the country’s latest acquisition on their X social media account.
With this latest purchase, the Bukele administration reinforces its commitment to expanding El Salvador’s strategic Bitcoin reserve.
In 2021, President Nayib Bukele made an unprecedented decision to declare Bitcoin legal tender in El Salvador.
Having Bitcoin as a legal tender ignited global debates, challenging traditional views on Bitcoin and other cryptocurrencies and highlighting their potential impact on the future of conventional financial systems.
Salvadoran authorities modified the Bitcoin law in January 2025, leading some to believe that Bitcoin is no longer legal tender in the country.
Under the new reform, government institutions and businesses are no longer required to accept Bitcoin.
Despite changes to its Bitcoin policies, the country continues to purchase Bitcoin and expand its crypto reserves.
Ongoing Acquisition of Bitcoin
El Salvador’s Bitcoin holdings currently stand at 6,134 coins, which fluctuate regularly as the country continues acquiring one Bitcoin per day. If they feel the price is low, they purchase more than one coin per day.
The country has also established its own Bitcoin mining operation, utilizing volcanic energy to enhance its reserves.
The precise profit El Salvador could have obtained from Bitcoin remains unknown. Public information regarding the purchase cost per Bitcoin, the country’s mining activity, and any Bitcoin sales is unavailable.
Buying One Bitcoin per Day
President Bukele publicly announced the initiative on November 16, 2022, affirming the government’s intent to continue purchasing Bitcoin daily until the digital asset becomes prohibitively expensive.
“The 1 Bitcoin a day program just deposited today’s Bitcoin. This continues until Bitcoin becomes unaffordable with fiat currencies,” wrote Nayib Bukele on his X account on March 15, 2024.
Despite the ongoing acquisition, the government has not disclosed details on the cost or any commissions associated with each purchase, leaving the full financial impact of these acquisitions unclear.
SEE ALSO: President Bukele Stands Firm: Vows to Keep Buying Bitcoin for El Salvador
Mining Bitcoin in El Salvador
In addition to purchasing Bitcoin, the Salvadoran government has taken steps to mine its own.
Shortly after making the cryptocurrency legal tender, the government initiated infrastructure projects to harness the country’s volcanic energy for mining operations.
It is unclear how many of these mining projects are today, as the Salvadoran government has not made this information public. However, news reports of these projects are available online, and two of them are Reuerts.com and Nasdaq.com.
El Salvador Bitcoin Holdings: Cold Wallet
El Salvador moved a significant portion of its holdings into a cold wallet. This storage solution keeps the assets offline and protected from potential cyberattacks.
In March 2024, President Bukele announced the transfer of a substantial amount of Bitcoin into a cold wallet in a physical vault within the country.
We’ve decided to transfer a big chunk of our Bitcoin to a cold wallet and store that cold wallet in a physical vault within our national territory. You can call it our first Bitcoin piggy bank. It’s not much, but it’s honest work. President Nayib Bukele.
El Salvador Bitcoin Holdings Future
The adoption of Bitcoin as a legal tender in 2021 marked a momentous shift in the financial landscape for the country and other nations worldwide. Yet, The future of Bitcoin in El Salvador feels a bit uncertain right now.
Even though the government still supports Bitcoin and continues to buy it to increase its reserves, many experts believe it is no longer legal tender, and most Salvadorans don’t use it.
It’s still an interesting experiment, however. Maybe things will change in the future, especially if Bitcoin becomes more stable or easier to use for regular transactions.
