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El Salvador Boosts Bitcoin Reserve to 2,301 BTC; U.S. Considers Strategic Bitcoin Reserve

Coin WorldTuesday, Feb 4, 2025 3:46 pm ET

1min read

El Salvador, the first country to adopt Bitcoin as legal tender, has expanded its Bitcoin reserve by purchasing an additional 11 BTC. This move comes as the country continues to embrace cryptocurrency as a means of financial inclusion and economic growth.

The purchase, valued at approximately $1.1 million at the time of acquisition, brings El Salvador's total Bitcoin holdings to 2,301 BTC. The country's Bitcoin strategy, led by President Nayib Bukele, aims to harness the power of cryptocurrency to drive innovation and attract investment.

El Salvador's Bitcoin purchases have been a subject of international attention and debate. While some critics argue that the country's Bitcoin holdings are a risky investment, others praise the country's forward-thinking approach to financial technology.

Meanwhile, other countries and institutions are also exploring the potential of Bitcoin as a reserve asset. In the United States, former Trump administration official David Sacks revealed that his team is evaluating the creation of a Strategic Bitcoin Reserve. This move, if implemented, could signal a shift in the U.S. government's stance on cryptocurrency.

In the private sector, companies are also increasingly turning to Bitcoin as a store of value. Semler Scientific, a NASDAQ-listed company, recently added 871 BTC to its holdings, spending $88.5 million between January 11 and February 3. This purchase brings the company's total Bitcoin treasury to 3,192 BTC, making it one of just 29 publicly traded companies that hold Bitcoin on their balance sheet.

Neptune Digital Assets Corp., a leading Canadian blockchain company, has also expanded its crypto holdings with BTC and DOGE purchases. The company acquired 20 additional Bitcoin and 1 million Dogecoin, increasing its total Bitcoin holdings to 376 BTC. This move aligns with Neptune's ongoing efforts to increase its Bitcoin holdings through direct acquisition, derivative trading, converting staking rewards into Bitcoin, and Bitcoin mining.

As El Salvador continues to lead the way in Bitcoin adoption, other countries and institutions are taking note. The global cryptocurrency landscape is evolving rapidly, with more and more entities recognizing the potential of Bitcoin as a reserve asset and a store of value.

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