El Salvador’s Bitcoin investment has reached a new milestone, with the country’s total crypto holdings recently valued at over $644 million. This increase follows a strong rally in Bitcoin prices, highlighting how the digital currency is continuing to play a key role in the nation’s financial strategy.
President Nayib Bukele shared an update on social media over the weekend, revealing a screenshot that showed El Salvador’s Bitcoin reserves climbing in value after the country bought an additional 30 BTC last month. While the total has since dipped slightly to around $637 million, the government’s Bitcoin Office says the country’s holdings have grown by more than $137 million in just the past 30 days.
The surge in value comes as Bitcoin briefly touched a new all-time high of $106,500 before settling near $103,000, according to CoinGecko. Experts at Bitfinex say the rally is being driven by a mix of factors, including strong ETF inflows, easing economic concerns, and signs that the U.S. Federal Reserve might keep interest rates flexible due to weaker economic data.
Despite pressure from international financial institutions, El Salvador has stuck to its Bitcoin strategy. In December, the country secured a $1.4 billion loan from the International Monetary Fund (IMF), which required some limits on public-sector use of cryptocurrencies. However, the country’s Bitcoin Office, which is not technically part of the fiscal sector, continues to buy one Bitcoin every day.
IMF officials confirmed last month that El Salvador is following the terms of the agreement, noting that the broader government is no longer actively accumulating Bitcoin. Still, Bukele has shown no signs of slowing down. In a March post on X (formerly Twitter), he wrote, “It’s not stopping,” dismissing critics who predicted the policy would end.
Many observers are now taking a closer look at El Salvador’s Bitcoin experiment. Vedang Vatsa, founder of Hashtag Web3, said the profits show how digital assets can strengthen national wealth. However, he also warned that long-term success depends on public support and strong planning. “Returns are just one part of the story,” Vatsa explained, adding that working with the IMF suggests El Salvador is trying to take a more balanced path.
With 6,181 BTC in its wallet, El Salvador now ranks as the sixth-largest Bitcoin-holding country, behind the U.S., China, the U.K., Ukraine, and Bhutan, according to data from Bitcoin Treasuries. Other countries are watching closely—and some may be ready to follow suit.
Changpeng Zhao, also known as “CZ” and the former CEO of Binance, said last month that he has been helping several governments build national crypto reserves. “We are in talks with many countries,” he said, pointing out that his team is advising them on secure wallet setups and cold storage solutions for state-owned digital assets.
As Bitcoin continues to rise, El Salvador’s bold move is looking more like a long-term investment rather than a risky gamble. Whether other nations will follow its lead remains to be seen, but one thing is clear: the world is paying attention.
