El Salvador’s President Nayib Bukele recently stirred online buzz after reacting to discussions about the country’s Bitcoin reserves potentially reaching $1 billion. The country is attracting global attention for its bold experiments with Bitcoin, including plans for Bitcoin banks and expanded crypto education programs.
Let us take a closer look at the latest developments and what the President has to say.
Recently, betting platform Kalshi placed a 25% chance on El Salvador’s Bitcoin reserves hitting $1 billion by December. Bukele noticed the post and playfully replied, saying, “I could do the funniest thing right now”.
This has sparked speculation that more Bitcoin buys could be on the way.
Since then, the odds of El Salvador’s Bitcoin reserves reaching $1 billion in 2025 have risen above 40%. Polymarket also launched a similar market shortly after, showing a 43% chance by year-end and 16% by September 30.
El Salvador now holds about 6,282 Bitcoin, worth over $700 million. Government entities worldwide collectively hold over 526,000 BTC. The largest holders are the United States with about 198,021 BTC, followed by China with 190,000 BTC and the United Kingdom with 61,245 BTC. El Salvador ranks 7th, placing it below Bhutan, which holds 10,565 BTC.
While there were claims that the country had stopped BTC purchases in July after a $1.4 billion loan deal from the IMF, however, President Bukele and the Bitcoin Office have kept hinting at new buys on social media.
Meanwhile, El Salvador continues to experiment with Bitcoin and is planning to explore Bitcoin-based banking initiatives.
The country is also boosting crypto literacy with its Bitcoin Diploma program. Earlier this month, it also launched a financial literacy program for students as young as seven.
With steady Bitcoin accumulation, innovative Bitcoin Banks plans, and educational programs teaching crypto, El Salvador is clearly positioning itself as a global leader in Bitcoin adoption.
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