Bukele says El Salvador purchased $2.3 million in BTC to mark bitcoin law anniversary
Quick Take
- El Salvador marked the fourth anniversary of its bitcoin law with a 21 BTC purchase.
- The country now holds a total of 6,313 BTC, worth roughly $701.8 million based on current market prices.
El Salvador purchased 21 BTC, worth roughly $2.3 million, in celebration of the fourth anniversary of its bitcoin law, according to President Nayib Bukele.
"Buying 21 bitcoin for Bitcoin Day," Bukele said on Sunday in a post on X. The nation started to recognize bitcoin as its legal tender in September 2021.
With the latest bitcoin purchase, El Salvador currently holds roughly 6,313 BTC in total, worth approximately $701.8 million at market prices, according to data from the country's National Bitcoin Office.
The nation's latest bitcoin purchase came about a week after its bitcoin office split its holdings across 14 addresses as an added safeguard against potential quantum threats. Last month, El Salvador's legislature passed a law allowing major financial institutions to seek licenses to provide bitcoin- and digital asset–denominated services to "sophisticated investors."
The country's bitcoin office has also been accumulating bitcoin, buying 1 BTC every day, according to its website. The purchases, however, contradict a July official statement submitted to the IMF by El Salvador's central bank president and finance minister, which confirmed that the country's public sector ceased BTC acquisitions in February as required under their IMF loan agreement.
"No, it's not stopping," Bukele said on X in March. "If it didn't stop when the world ostracized us and most 'bitcoiners' abandoned us, it won't stop now, and it won't stop in the future."
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