#ElSalvadorBTCReserve
El Salvador has been actively investing in Bitcoin since its adoption as legal tender in September 2021. As of December 2024, the country holds approximately 5,930 Bitcoins, with the reserve's value exceeding $600 million due to recent price surges.
In December 2024, El Salvador reached a $1.4 billion loan agreement with the International Monetary Fund (IMF). As part of this deal, the government agreed to scale back certain Bitcoin-related policies, including making Bitcoin acceptance voluntary for businesses and planning to sell or discontinue the official cryptocurrency wallet, Chivo.
Despite these adjustments, the government intends to continue purchasing Bitcoin for its strategic reserves. Stacy Herbert, director of the National Bitcoin Office, indicated that acquisitions might even accelerate.
Regarding the storage of its Bitcoin reserves, the Salvadoran government has not publicly disclosed specific details about the platforms or wallets used. There is no publicly available information indicating that El Salvador utilizes Binance or any other specific exchange for holding its Bitcoin assets.