El Salvador Boosts Bitcoin Stacking as Daily Purchases Jump from 1 to 1.6 BTC
Highlights:
- El Salvador has increased its daily Bitcoin purchase from 1 token per day to 1.6 coins.
- With the new consistent buying spree, the Central American nation bought 93.417 BTC within two months.
- Currently, El Salvador has 6,081 BTC worth approximately $579.9 million.
El Salvador’s Bitcoin holdings have increased significantly over the past few days. As usual, the renowned on-chain transactions tracker Spotonchain spotted the new trend, which it shared on its verified X handle. Per the on-chain tracker, the increment stems from increasing El Salvador’s daily purchase from its original one token per day to its present 1.6 coins daily purchase.
With the increased daily acquisition, Spotonchain noted El Salvador was able to procure roughly 93.417 BTC between December last year and the present. Part of the tweet read, “Since December 22, 2024, this government appears to have ramped up its Bitcoin purchases, accumulating 93.417 $BTC at an average price of $98,579—ranging from 1 BTC to 11 BTC per day.” Moreover, the consistent buying spree spiked the Central American nation’s BTC holdings to about 6,081 tokens, worth approximately $579.9 million.
Amid growing debate on Bitcoin’s sustainability as a dependable store of value, El Salvador’s consistent purchase signifies faith in Bitcoin. Notably, while the nation’s economy remains ranked among middle-income countries, it has remained steadfast in Bitcoin investments, which invariably implies that El Salvador considers BTC a suitable option for economic expansion.
No longer just 1 $BTC per day—El Salvador is now stacking ~1.6 $BTC daily!
Since December 22, 2024, this government appears to have ramped up its Bitcoin purchases, accumulating 93.417 $BTC at an average price of $98,579—ranging from 1 BTC to 11 BTC per day.
Current holdings:… pic.twitter.com/qQHW5nOmUy
— Spot On Chain (@spotonchain) February 18, 2025
El Salvador Shows Strong Commitment to Building Its Economy Around BTC
Aside from its recently increased daily Bitcoin procurement, fresh developments have suggested that El Salvador is prioritizing BTC as part of its efforts for economic revival. In what could qualify as a groundbreaking achievement, the Central American nation has revealed that its new national library will have a section dedicated to Bitcoin.
The new setup will contain quality books that simplify Bitcoin and its nodes’ functionality. According to sources familiar with the plans, the library will not only educate the nation’s citizens. It will also teach visitors about the leading crypto asset class. With such an initiative, it becomes safe to assert that El Salvador wants to boost Bitcoin adoption among its citizens and the global population.
🇸🇻 El Salvador’s National Library will feature a dedicated Bitcoin section showcasing top BTC books and a fully operational node.
A newly released render reveals the design of the upcoming exhibit. pic.twitter.com/SegKccHuxk
— cryptothedoggy (@cryptothedoggy) February 18, 2025
Meanwhile, in other related news, Nayib Bukele, El Salvador’s President, met with Michael Saylor, MicroStrategy’s co-founder. It is worth noting that MicroStrategy is the largest corporate holder of Bitcoin, with about 478,740 BTC stores valued at roughly $31.1 billion. Saylor shared a tweet confirming that he met with El Salvador’s president, where they discussed several opportunities for El Salvador, with Bitcoin as a leading asset class.
Apart from discussing potential benefits from Bitcoin investments, Saylor noted they also spoke on accelerating global Bitcoin expansion. At the time of writing, in-depth details of what both men discussed remain unknown and can only be speculated by closely observing their next moves.
Yesterday, @NayibBukele and I had a great discussion about the opportunities for El Salvador🇸🇻 to benefit from and accelerate global Bitcoin adoption. pic.twitter.com/BerAmVWGdn
— Michael Saylor⚡️ (@saylor) February 14, 2025
Bitcoin Price Record Slight Declines as El Salvador Boosts BTC Stacking
Bitcoin is changing hands at roughly $95,100, reflecting a slight 0.3% decline in the past 24 hours. Within the same timeframe, the flagship cryptocurrency has fluctuated between $95,136.92 and $96,619.23. For a 7-day-to-date interval, BTC dropped by about 1.4%, with minimum and maximum prices oscillating between 94,907.04 and $98,623.62.
The price extremes above underscores Bitcoin’s struggle amid market instabilities. In other relevant statistics, Bitcoin’s market capitalization has dropped to $1.893 trillion. Despite the price declines, Bitcoin’s dominance has topped 60%. Similarly, its 24-hour trading volume is up by about 9.75% with a $28.76 billion valuation.
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Chinedu Agbakwusi
Chinedu Agbakwusi is a news writer and editor for Crypto2Community. He is a crypto enthusiast with vast experience across several crypto-related projects and platforms. Chinedu has been following the development of the crypto market for several years, and he is optimistic about its potential to democratise the global financial system. He hopes to be a reliable plug for reporting trends and breaking down complex concepts to his readers. Agbakwusi's previously written for several crypto news including Times Tabloid, UPay, while also contributing over the years to many others leading media publications.
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