El Salvador Buys 21 BTC to Mark Anniversary of Bitcoin Law

El Salvador has once again added to its Bitcoin reserves, purchasing 21 BTC worth about $2.3 million in celebration of the fourth anniversary of its Bitcoin law.

President Nayib Bukele confirmed the move on Sunday, calling it “Buying 21 bitcoin for Bitcoin Day” in a post on X.

The country became the first in the world to adopt Bitcoin as legal tender back in September 2021, a move that drew global attention and set the stage for its ongoing accumulation strategy.

Growing Reserves

With the latest purchase, El Salvador’s holdings have climbed to roughly 6,313 BTC, valued at around $701.8 million at current market prices, according to data from the National Bitcoin Office. Just last week, the office split its holdings across 14 different addresses, a step it said was meant to enhance security against potential future threats such as quantum computing.

Broader Crypto Framework

The buy comes on the heels of broader policy developments. In August, El Salvador passed legislation requiring large financial institutions to obtain licenses to provide services tied to Bitcoin and other digital assets. The framework is aimed at drawing in “sophisticated investors” while giving the government greater oversight of the country’s growing crypto economy.

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For Bukele, the 21 BTC purchase was both symbolic and strategic, underscoring his administration’s continued commitment to Bitcoin as a cornerstone of El Salvador’s financial experiment.