El Salvador has become the sixth country to hold over 6,000 Bitcoin, reinforcing its status as a leader in global Bitcoin adoption. On December 29, the nation increased its Bitcoin portfolio to 6,000.77 BTC, which is now worth approximately $569.3 million, as reported by the National Bitcoin Office’s portfolio tracker. The country’s Bitcoin investment has seen a 108.02% increase, with an average purchase price of $45,450 per coin according to President Nayib Bukele’s tracker.
El Salvador kicked off its Bitcoin strategy on September 6, 2021, with the acquisition of 200 BTC, just before making Bitcoin legal tender. It now ranks sixth among countries with substantial Bitcoin reserves, behind the United States, China, the United Kingdom, Ukraine, and Bhutan, according to BitBo’s Bitcoin Treasuries data. Despite receiving criticism from international bodies like the IMF, the Bukele administration continues to back its Bitcoin policy.
Stacy Herbert, Director of the National Bitcoin Office, hinted on December 19 via social media that El Salvador might increase its Bitcoin purchases. The government has no intention to divest its holdings, emphasizing Bitcoin’s role in its economic plans. The official Chivo wallet might be sold or phased out, with private-sector wallets expected to take over. The ongoing $1.4 billion negotiations with the IMF are yet to be finalized, potentially influenced by El Salvador’s Bitcoin stance.
In the United States, states like Ohio, Texas, and Pennsylvania are contemplating adding Bitcoin to their treasury reserves. Ohio’s House Republican leader Derek Merrin introduced a bill for this purpose, echoing similar initiatives in Texas with the Texas Strategic Bitcoin Reserve Act by Representative Giovanni Capriglione, and in Pennsylvania through legislation by Representative Mike Cabell.
Corporations like MicroStrategy, Metaplanet, MARA Holdings, and Riot Platforms are also expanding their Bitcoin reserves. However, according to Galaxy Digital’s Alex Thorn, the U.S. government is not expected to buy Bitcoin in 2025 but will instead manage its current holdings.