While Christmas and its festivities were being celebrated worldwide, El Salvador got busy with purchasing more Bitcoin (BTC).
1 BTC Per Day in El Salvador Bitcoin Bag
The Central American nation kept up with its Bitcoin acquisition spree, bagging 1 BTC this time. It is worth noting that the coin is currently trading at $95,358.04, following a 3.08% dip. El Salvador’s latest buy has boosted its reserves to 5,997.77 BTC, now valued at $595 million.
🇸🇻🎁EL SALVADOR STACKED SOME BITCOIN ON CHRISTMAS DAY!!
Like a boss, El Salvador continued adding one BTC per day to our Strategic Bitcoin Reserve.
And we are still so early …
… wait until you see what we have in store for 2025!
— The Bitcoin Office (@bitcoinofficesv) December 25, 2024
“Like a boss, El Salvador continued adding one BTC per day to our Strategic Bitcoin Reserve.” the Bitcoin Office wrote on X. “And we are still so early … wait until you see what we have in store for 2025!”
El Salvador Goes Against IMF on Bitcoin Adoption
A few days ago, Stacy Herbert, the director of El Salvador’s Bitcoin Office, went on X to clarify that the firm’s BTC purchases would proceed at “an accelerated pace.”
Not long after, El Salvador purchased 12 BTC and 1 BTC the day after. The next day, they grabbed another 12 and have since consistently purchased 1 BTC daily.
The International Monetary Fund (IMF) still exerts pressure on the country, asking it to reduce its exposure to the flagship cryptocurrency.
Interestingly, El Salvador recently signed a strategic deal with the agency and is expected to scale back on its Bitcoin adoption. Instead, it purchased $1 million worth of Bitcoin just a day after finalizing a $1.4 billion deal with the IMF.
US And UK Have Large BTC Stash From Seizures
Apart from El Salvador, Bhutan has also strategically held a Bitcoin reserve, mining the coin since as far back as 2019.
As it stands, its BTC reserve contributes up to one-third of its GDP. Bhutan holds as much as 11,688 BTC in its Bitcoin reserve. This entire holding is valued at $1.16 billion. This stash is still quite small compared to regions like the US and the UK.
However, these other countries got their Bitcoin from mostly criminal seizures and confiscation. The US government secured up to 198,109 BTC, worth a staggering $19.68 billion. Similarly, the U.K. has as much as 61,245 BTC, all forfeiture from criminal cases. This holding amounts to just over $6 billion as of Dec. 25.
