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El Salvador has added 21 Bitcoin to its nationalist holdings successful a symbolic determination to observe the 4th day of adopting Bitcoin arsenic ineligible tender.
President Nayib Bukele disclosed the acquisition successful a Sept. 7 station connected X, noting that the acquisition coincided with “Bitcoin Day,” erstwhile the state formally approved the crypto successful 2021.
With this addition, El Salvador’s Bitcoin treasury present stands astatine 6,313 BTC, worthy much than $701 cardinal according to authorities figures.
According to Dropstab data, the Central American state has invested $300 cardinal to money these acquisitions, yielding an unrealized nett of much than $400 million.
Meanwhile, this transaction was little astir marketplace positioning and much astir symbolism.
By marking the day with different Bitcoin buy, Bukele reinforced his government’s committedness to a argumentation that has defined his administration’s economical identity.
El Salvador’s Bitcoin embrace
El Salvador’s Bitcoin Office highlighted the advancement made since the landmark determination successful 2021.
Officials pointed to milestones specified arsenic establishing the world’s archetypal Strategic Bitcoin Reserve, launching the CUBO+ Bitcoin and Lightning developer program, and certifying 80,000 nationalist servants successful Bitcoin-related training.
The bureau besides highlighted the ineligible model introduced for integer plus markets, including the Investment Banking Law passed successful 2025.
Speaking connected these milestones, Stacy Herbert, the Director of the Bitcoin Office, framed the improvement arsenic portion of efforts to physique the “greatest state marque successful the world: BITCOIN COUNTRY.”
She added:
“The Bitcoin Office has consistently delivered bonzer results by focusing connected lone precocious integrity partners and projects for our squad …and this is conscionable the beginning.”
Yet, portion the authorities framed the day arsenic a solemnisation of progress, planetary observers raised concerns.
The International Monetary Fund (IMF) questioned the transparency of El Salvador’s reported Bitcoin holdings. In a July report, the IMF suggested that the country’s increasing Bitcoin equilibrium reflected interior plus reorganizations alternatively than ongoing regular purchases.
This straight challenges statements from El Salvador’s National Bitcoin Office, which has consistently asserted that the authorities continues to bargain Bitcoin daily.
The station El Salvador celebrates Bitcoin milestone with symbolic 21 BTC purchase appeared archetypal connected CryptoSlate.
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