El Salvador Celebrates Crypto Anniversary with Symbolic 21 BTC Purchase

The acquisition was worth just over $2 million based on an average of current market prices and is symbolic of the cryptocurrency’s limited circulation of 21 million coins, El Salvador’s President Nayib Bukele confirmed on X. 

Since March 2024, El Salvador has reportedly bought one BTC per day, according to government data from the country, despite a $1.4 billion International Monetary Fund loan agreement issuing a stop to Bitcoin purchases.

Bitcoin coffers 

According to official figures from the country’s “Bitcoin Office” El Salvador’s holdings now stand at 6,313.18 Bitcoin, valued around $701 million. That places the Central American nation among the largest sovereign holders of bitcoin, alongside countries experimenting with mining-backed reserve strategies.

The 2021 Bitcoin Law made El Salvador the first country to adopt the asset as legal currency. Officials argued the move would improve financial inclusion and cut remittance costs. Critics countered that volatility, limited transparency, and top-down implementation posed macroeconomic risks.

Bigger fish 

Still, El Salvador’s latest buy is modest when compared globally. Japanese investment firm Metaplanet this week announced the recent purchase of 136 Bitcoin, more than six times the Salvadoran gesture. Metaplanet’s continuous purchasing underscores the flow of institutional money into digital assets as companies develop their own crypto treasuries.