- El Salvador Buys Bitcoin Daily
- El Salvador to Decrease Dependence on Foreign Borrowing
- Bhutan Surpasses El Salvador’s Holdings
El Salvador has implemented a strategy of purchasing bitcoins daily since 2022, which has led to $349 million in reserves and a 49% return on investment.
El Salvador Buys Bitcoin Daily
Since the beginning of 2022, El Salvador has been buying one bitcoin every day. The country currently holds 5,875 bitcoins, valued at $349 million. Through daily purchases, the Salvadoran government has managed to build a substantial Bitcoin portfolio. On-chain data reveals that the last purchase was made at $61,000, showcasing the country's strong stance in buying Bitcoin regardless of market conditions.
El Salvador to Decrease Dependence on Foreign Borrowing
President Nayib Bukele recently announced that El Salvador will not seek external borrowing to fund its next budget. Instead, the country plans to utilize its Bitcoin reserves and geothermal energy-based mining to stimulate economic growth. This represents a new approach in financial management aimed at reducing foreign debt and increasing economic self-sufficiency.
Bhutan Surpasses El Salvador’s Holdings
Bhutan currently holds 13,029 bitcoins worth $758 million, which constitutes 25% of the country's GDP. These reserves were built up through hydroelectric Bitcoin mining managed by Bhutan's investment arm, Druk Holding. Bhutan began Bitcoin mining in 2019 when one bitcoin was priced at $5,000 and continued to expand this sector in collaboration with Bitdeer in 2023. The mining sector in Bhutan is expected to increase its capacity by an additional 500 MW by 2025.
El Salvador continues to aggressively accumulate bitcoins with the aim of strengthening the country's economic independence. While El Salvador is increasing its reserves, Bhutan is also actively pursuing growth in this area, significantly surpassing El Salvador in total bitcoin holdings.
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