El Salvador, the smallest and most densely populated country in Central America, keeps piling on the bitcoins, adding another coin to its treasure on Christmas Day, boosting its reserves to 5,997.77 BTC, now valued at a cool $595 million.

El Salvador’s Festive BTC Grab: One Coin a Day Keeps Skeptics at Bay

El Salvador recently inked a deal with the International Monetary Fund (IMF) that stirred some buzz. The IMF nudged El Salvador to dial down its bitcoin agenda, which had been a hot potato in discussions. Post-deal, Stacy Herbert, the director of El Salvador’s Bitcoin Office, took to social media to clarify that BTC purchases would proceed at “an accelerated pace.”

The very day Herbert made her statement, El Salvador scooped up another 12 BTC. The next day, they grabbed one more bitcoin, followed by another 12 on Dec. 21, and they’ve been snagging 1 BTC daily ever since. The X account linked to El Salvador’s Bitcoin Office shared the festive acquisition on the social platform.

“Like a boss, El Salvador continued adding one BTC per day to our Strategic Bitcoin Reserve,” the X account boasted. “And we are still so early … wait until you see what we have in store for 2025.

El Salvador is one of the few countries, alongside Bhutan, using a BTC reserve strategically. Bhutan has been mining BTC since 2019, with the reserve contributing about one-third of its GDP. The Himalayan kingdom’s hoard dwarfs El Salvador’s, holding 11,688 BTC, valued at $1.16 billion at the time of writing.

While both nations use their BTC reserves strategically, other countries possess more, but those coins are often from criminal seizures and more likely to hit the open market. The U.S. government’s BTC, gathered from forfeiture cases, totals 198,109 BTC, worth a staggering $19.68 billion. The U.K. too has a hefty stash from criminal cases, holding about 61,245 BTC, amounting to just over $6 billion as of Dec. 25.

El Salvador’s unwavering commitment to digital assets highlights a break from conventional financial constraints, setting a precedent beyond its borders. Analysts may see these moves as strategic defiance or inspired foresight, pointing to a realm where nations hold not just currency, but leverage. Whether caution or ambition prevails remains a question as 2025 nears. Observers worldwide will monitor each step.

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