El Salvador Adds 8 BTC, Total Reaches 6,229 BTC

El Salvador Adds 8 BTC, Total Reaches 6,229 BTC

President Nayib Bukele’s acquisition of 8 BTC aligns with his continued strategy for bolstering El Salvador’s financial reserves with cryptocurrency.

Under President Bukele, El Salvador added 8 BTC to its national reserves. This purchase increases its holdings to 6,229 BTC. The National Bitcoin Office assists Bukele’s incremental strategy, consistently purchasing Bitcoin without third-party funding.

The acquisition reflects ongoing commitment to Bitcoin as a national reserve asset, with holdings now valued at several hundred million dollars. Despite the increase, there is no significant impact on Bitcoin’s market liquidity due to the small purchase volume.

“We continue our disciplined approach to Bitcoin accumulation, adding 8 BTC to our national reserves.”
— Nayib Bukele, President, El Salvador ( source )

The incremental strategy reinforces Bitcoin’s role in El Salvador’s economic strategy. While not impacting global liquidity, the move shows symbolic support for Bitcoin and maintains El Salvador’s stance as an early adopter of cryptocurrency reserves.

Potential effects include increased global awareness and potentially growing acceptance of cryptocurrency as a form of national reserve, underscoring El Salvador’s pioneering role in using digital currency on a governmental level.