cryptojournalist
El Salvador’s Bitcoin stash is up over $300 million after the cryptocurrency hit $100,000 on December 5.
President Nayib Bukele shared the news online, revealing that the country has invested $270 million since making Bitcoin an official currency in 2021. El Salvador holds 6,180 BTC, hasn’t sold any, and is up 122% on its investment.
Why Bitcoin Matters in El Salvador
In 2021, El Salvador made history by adopting Bitcoin as legal currency. The government kicked things off with a 200 BTC purchase and later began buying one Bitcoin daily.
The move hasn’t just brought profits—it’s also boosted tourism and put the country on the map for crypto innovation.
IMF Pushes Back
Not everyone is on board. The IMF has repeatedly criticized El Salvador’s Bitcoin experiment, warning it could harm financial stability. Recently, it called for scaling back Bitcoin’s role in public finances and limiting the risks.
