 
 
El Salvador acquired 21 BTC, worth approximately $2.3 million, in celebration of the fourth anniversary of its historic Bitcoin law, according to President Nayib Bukele.
The purchase is a symbolic nod to Bitcoin’s 21 million capped supply and continues the Central American nation’s reserve-building plan despite tensions with the International Monetary Fund.
El Salvador Scoops More BTC To Celebrate Anniversary
“Buying 21 bitcoin for Bitcoin Day,” President Nayib Bukele wrote in a Sunday X post. El Salvador was celebrating “Bitcoin Day,” the anniversary of the law that made it the world’s first country to adopt Bitcoin as legal tender, alongside the U.S. dollar, in September 2021.
With the latest Bitcoin purchase, El Salvador currently holds around 6,313 BTC, worth around $701 million at current prices, according to data from the nation’s National Bitcoin Office.
El Salvador’s latest Bitcoin buy came about a week after its Bitcoin office moved the country’s entire reserve out of a single wallet and redistributed it across 14 addresses as an added security measure against potential quantum computing threats. Each address will hold no more than 500 BTC, a limit meant to reduce the potential damage if any one of them were ever compromised.
 
Since March of last year, El Salvador has continued to purchase 1 BTC per day, data indicates. The daily buys are in apparent contradiction with a July official statement submitted to the IMF by El Salvador’s central bank president and finance minister, which confirmed that the country’s public sector halted BTC acquisitions in February as required under their $1.4 billion loan agreement with the International Monetary Fund (IMF), a supranational financial institution.
As part of the deal, the Salvadoran government scaled back its ambitious Bitcoin Law to make merchant acceptance no longer mandatory while retaining the flagship cryptocurrency as legal tender. The government also agreed to wind down its Chivo Bitcoin wallet, which registered limited use among citizens.
Despite El Salvador’s 4-year Bitcoin experiment yielding mixed results, the country’s total holdings still place it among the largest sovereign Bitcoin stashes.
Source: https://zycrypto.com/el-salvador-commemorates-bitcoin-law-anniversary-with-21-btc-purchase/
