Five Years On, El Salvador Is Still Buying Bitcoin
Bitcoin Magazine Five Years On, El Salvador Is Still Buying Bitcoin Five years ago yesterday, El Salvador’s Congress voted 62-to-22 to pass the world’s first Bitcoin Law, making the small Central American nation the firs...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Bitcoin Magazine
Five Years On, El Salvador Is Still Buying Bitcoin
Five years ago yesterday, El Salvador’s Congress voted 62-to-22 to pass the world’s first Bitcoin Law, making the small Central American nation the first country on earth to grant bitcoin legal tender status.
The date was June 8, 2021. Half a decade later, the government holds 7,677 BTC worth approximately $480 million — and it is still accumulating.
The country has run a dollar-cost averaging strategy since President Nayib Bukele announced a policy of purchasing one bitcoin per day in November 2022. In the 12 months since June 2025, El Salvador added more than 1,600 BTC to its stack, including a tactical purchase of over 1,000 BTC in a single week during a November market dip.
At the start of 2026, the Bitcoin Office declared the country was going “all in” on both bitcoin and artificial intelligence.
That conviction survived a major policy reversal. In January 2025, Bukele’s administration stripped bitcoin of its mandatory legal tender status as a condition of a $1.4 billion IMF loan package. Businesses are no longer legally required to accept it, and the government-issued Chivo wallet — the centerpiece of Bukele’s original pitch — is being phased out.
But the government has not sold a single coin from its treasury and BTC is still able to be used as a currency for those who wish to use it.
5 years ago, El Salvador passed the first 'Bitcoin Law' that regulated BTC as legal tender
Today, they now own 7,677 BTC worth $480 million. pic.twitter.com/RA7HUmwLvO
El Salvador offers no capital gains tax on bitcoin or cryptocurrency transactions, a policy the government doubled down on in early 2026 to court foreign investors. The country is also developing plans for a “Volcano Bond” backed by bitcoin and a proposed Bitcoin City powered by geothermal energy.
The remittance case that Bukele used to sell the law to the public has yet to materialize at scale. El Salvador is one of the most remittance-dependent economies in the world — personal transfers from abroad equal roughly 24 percent of GDP, with Q1 2026 totaling $2.43 billion. Crypto accounted for just $17.38 million of that figure, or 0.71 percent of the total.
This post Five Years On, El Salvador Is Still Buying Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Why this matters
Bitcoin is a tracked market entity in the DigitalMoneyBox archive, making this useful context for readers monitoring repeated mentions and follow-up coverage.
Original source
Read on Bitcoin MagazineRelated market context
FATF Says Crypto Travel Rule Adoption Is Rising, But Enforcement Still Lags
The Financial Action Task Force says more jurisdictions are putting crypto rules into law, but enforcement remains the weak point....
BlackRock’s IBIT accounted for 90% of a $225 million Bitcoin ETF reversal after a seven-day buying streak
US spot Bitcoin ETFs recorded $225 million in net outflows on July 23, ending a seven-session inflow streak as net redemptions fro...
Five Regulatory Moves This Week That Will Shape Crypto Trading in the Second Half of 2026
This week regulators were busy defining where crypto trading can happen, which intermediaries can provide access, how assets get c...
Hester Peirce Warns Crypto Vaults And Lending Strategies May Still Trigger Securities Rules
SEC Commissioner Hester Peirce has issued a new statement on crypto vaults and lending strategies, and the message is more nuanced...
Bitcoin News: Johor Syndicate Cleared $25,000 Monthly by Stealing Power
In Bitcoin news today, police in Malaysia dismantled a Bitcoin mining syndicate following four raids on July 22 and 23 by Tenaga N...
Bitcoin treasury company erases 7.7M shares after selling 177 BTC – yet Bitcoin per share fell
Smarter Web sold 177.89 Bitcoin to repay an $11.7 million convertible instrument that could have produced 7.72 million new shares....