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Author: Admin | 2025-04-28
Published: December 28, 2024 Last Updated: December 28, 2024 El Salvador’s bitcoin reserve grows, strengthening its leadership in crypto adoption.Consistent Bitcoin purchases show El Salvador’s commitment to digital currency growth.The U.S. explores bitcoin policy, potentially following El Salvador’s reserve model.El Salvador is closing in on holding 6,000 bitcoins in its national reserve, strengthening its role as a global leader in cryptocurrency adoption. Since making Bitcoin legal tender in 2021, the country has steadily increased its holdings of the digital currency.Related: El Salvador Trades Bitcoin Freedom for $1.4B IMF LifelineThis landmark reflects El Salvador’s commitment to Bitcoin and its vision for a transformed financial future. With countries like the United States beginning to explore Bitcoin as a reserve asset, El Salvador’s pioneering stance is gaining global recognition.El Salvador is about to reach 6,000 bitcoins in reserveThat milestone will reinforce the leadership the country has sustained since the inclusion of bitcoin policies in 2021.El Salvador is about to reach 6,000 bitcoins in the state's strategic reserve, positioning it as a… pic.twitter.com/6E5ebrGq6A— El Salvador Translated (@ESTRANSLATED) December 27, 2024The Path to 6,000 BitcoinsEl Salvador’s journey toward building a substantial bitcoin reserve began in 2021 under President Nayib Bukele’s administration. Initially, the government made sporadic purchases of bitcoin, but by the end of 2022, it announced a more aggressive strategy buying one bitcoin per day. To date, this initiative has resulted in the acquisition of 770 bitcoins, which have appreciated by 113.04%. Recently, the government added to its reserve by purchasing 22 more bitcoins, capitalizing on a price dip due to profit-taking by investors. These consistent purchases are a clear indication of the country’s dedication to maintaining a growing reserve.Bitcoin’s Role in El Salvador’s EconomyEl Salvador’s commitment to Bitcoin extends beyond building reserves. The government has prioritized reinforcing Bitcoin’s status as legal tender. The National Bitcoin Office (ONBTC), led by Stacy Herbert, has played a key role in ensuring Bitcoin remains integral to the nation’s economy.Related: El Salvador Scales Back Bitcoin Adoption Under IMF Loan TermsAdditionally, the government recently reached an agreement with the International Monetary Fund (IMF) to refine its Bitcoin policies. These
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