El Salvador’s Bitcoin reserves surge past $760 million
President Bukele’s controversial Bitcoin policy is yielding long-term value, despite ongoing international criticism.
El Salvador’s national Bitcoin stash has soared past $760 million following the latest price surge above $123,000, marking a major milestone in President Nayib Bukele’s crypto strategy. With more than 6,237 BTC in reserves, purchased at an average of $42,000, the country’s investment has nearly tripled in value.
President Bukele first made Bitcoin legal tender in 2021, enduring global backlash, internal debate, and a long bear market. Despite international pressure, including proposed US legislation and IMF disapproval, the country has continued adding to its Bitcoin reserves.
Some analysts view El Salvador’s gains as a potential model for other governments. Pranav Agarwal called El Salvador’s gains a strong case for sovereign crypto reserves, noting such strategies can pay off over several years.
Bitcoin’s continued climb is also attracting market attention, with analysts pointing to $124,000–$125,000 as the next target. For now, El Salvador’s bold move is reshaping the conversation around crypto and national finance.
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