El Salvador's strategic Bitcoin reserves are generating millions in profits while it prepares to create a crypto bank and expands financial education.
El Salvador's Bitcoin strategic reserve has reached a new all-time high in dollar terms, surpassing $784 million in early October. This figure, which reflects more than 474 million in unrealized gains According to the National Bitcoin Office (NBO), it is just the tip of the spear in a rapidly evolving national strategy.
While the treasury continues accumulating one bitcoin daily, the Central American country is preparing for its next big move: the creation of a regulated Bitcoin bankThis step, combined with a notable tourism boom and an educational program that is being exported worldwide, paints a picture of a nation seeking to consolidate its financial commitment to cryptocurrencies.
The adoption of Bitcoin as legal tender in 2021 was an act that shook the foundations of traditional finance. Four years later, El Salvador's strategy has matured, pivoting from an initial focus on everyday transactions to consolidating a sovereign reserve asset and building an entire financial infrastructure around it.
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The foundation of the Salvadoran government's current confidence in its project lies in its balance sheet figures. The ONB, which publicly monitors the state portfolio, confirmed that The country has 6.338 bitcoinsWith a total investment exceeding 300 million dollars, the unrealized gains of $474,5 million They provide a financial cushion and, above all, a powerful political argument.
Esta accumulation of bitcoins responds to the daily purchasing policy Announced by President Nayib Bukele in 2022, a dollar-cost averaging (DCA) strategy has proven effective during market volatility. Last September alone, the reserve added 50 BTC. Symbolically, 21 of those coins were acquired on September 7, coinciding with the anniversary of the historic Bitcoin Law.
Although Bukele himself has acknowledged in interviews that the adoption of Bitcoin as an everyday means of payment has not met initial expectations, the focus has successfully shifted. The digital asset is now promoted, and has proven effective, as a investment tool and a store of value for the nationThis financial success has allowed the government to dismiss initial criticisms about cryptocurrency's volatility and justify the next phase of its innovative plan.
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The impact of the "Bitcoin brand" is being felt in tangible sectors of the real economy. El Salvador has experienced a transformation in its tourism industry, becoming a leading destination for the global cryptocurrency communityOfficial figures report a 22% increase in tourist arrivals in 2024 compared to the previous year.
Industry sources indicate that this growth is a direct result of the combination of two factors: the drastic improvement in the country's security conditions and the infrastructure created around Bitcoin. A robust niche of Bitcoin tourism, where visitors, ranging from families to investors, use the digital asset as their preferred local currency to pay for accommodation, food, and services. In other words, Bitcoin has served as a powerful tool for national rebranding.
At the same time, the human infrastructure is being built. The project "My First Bitcoin", born in 2021 as an independent community initiative, is playing a crucial role. Nearly 5.000 Salvadorans have already been trained through its educational programs, which seek empower the population with financial knowledge relevant to the new paradigm.
The Salvadoran educational model is already being taught in more than 30 countries through a network of more than 70 partner projects, or "nodes," of My First Bitcoin. Furthermore, the organization is professionalizing its reach with the "Teacher Training Certification," a program to train new educators that has already been piloted in Paraguay. With all this, El Salvador is not only using Bitcoin, but is also exporting the knowledge to use it.
Create your digital reservation with bitcoins hereInstitutionalizing the Leading Cryptocurrency: A Bitcoin Bank on the Way
The most recent development, and perhaps the most significant for the country's financial future, is the formalization of a specialized banking system. During an event in Washington, DC, El Salvador's ambassador to the United States, Milena Mayorga, confirmed the government's new plans: "We're going to have a bitcoin bank in El Salvador."
In August, the National Bitcoin Office had already announced these plans through its official channels, indicating that Bitcoin banks were coming to the country. Ambassador Mayorga's statement added a geopolitical context, stating that the country has had to "confront superpowers and also institutions that did not allow Bitcoin to move forward."
The legal basis for this new entity is already established. The Legislative Assembly recently approved the Investment Banking Entities LawThis legislation is the missing piece in the institutional puzzle, as it allows for the creation of Investment Banks with the explicit power to operate and provide services as digital asset providers, issuers of those assets, and, crucially, Bitcoin service providers.
In short, this movement represents the definitive institutionalization of the market-leading cryptocurrency. It goes beyond having a state reserve; it's about creating a regulated financial system where private and institutional capital can operate with Bitcoin under a clear legal framework. It's about building the access ramps that big capital requires, enabling custody, investment, and digital asset management services within the country's formal banking system.
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Four years after its launch, El Salvador's Bitcoin venture has grown from a simple monetary experiment to a comprehensive ecosystem. Treasury earnings, managed by the National Bank of Argentina (ONB), provide financial validation.
The tourism boom demonstrates indirect economic benefits and a successful country branding. The educational work of initiatives like My First Bitcoin ensures long-term human capital, and finally, Ambassador Mayorga's announcements, supported by the new banking law, establish the regulated infrastructure.
El Salvador is using Bitcoin not just as currency or a reserve, but as the backbone of a new economic development model, designed to attract investment, foster innovation, and position the Central American nation as a cutting-edge financial center in the digital age.
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Note: Main image taken from the X account of the National Bitcoin Office
