El Salvador’s Bitcoin strategy has been one of the most closely watched experiments in global finance since the country became the first to adopt BTC as legal tender in September 2021. Crossing the threshold of 6,332.18 BTC is more than a round-number milestone: it reflects a multi-year commitment to dollar-cost averaging (DCA), selective treasury purchases, and a growing stream of volcano-powered Bitcoin mining that steadily augments the nation’s BTC reserves. While the exact figure can fluctuate with ongoing daily purchases and address consolidations, recent disclosures from officials and independent trackers indicate that El Salvador’s stack was moving through the low-6,000s in mid-to-late 2025—consistent with this updated total.
The path to this accumulation has not been a linear one. Market drawdowns, policy debates with international institutions, and evolving custody practices have all contributed to shaping the story. Yet the through-line remains clear: under President Nayib Bukele, the country has pursued a long-term accumulation plan aimed at building a strategic Bitcoin treasury and positioning El Salvador as a hub for BTC adoption and infrastructure.
From legal tender to long-term holding: a quick recap
When El Salvador recognized Bitcoin as legal tender in 2021, the move sparked global headlines and scrutiny. The government followed with on-chain purchases and a high-profile public posture that framed BTC as a reserve asset for the national balance sheet. Over time, the approach evolved from episodic buys to a systematic “one bitcoin per day” DCA program—publicly announced in November 2022—which has run alongside opportunistic purchases and mined coins. This cadence explains how the country’s holdings have climbed persistently through 2024 and 2025 despite price volatility.
Notably, authorities have also adjusted custody. In 2024, Bukele stated that the country would transfer a “big chunk” of its BTC to cold storage—an offline device stored in a physical vault—to reduce its attack surface and enhance resilience, aligning with a custodial stance common among security-minded institutional holders. In 2025, officials further disclosed a plan to distribute reserves across multiple addresses (capped at roughly 500 BTC each) and to publish dashboards for public tracking—steps intended to enhance on-chain transparency while minimizing the risk of single-address exposure.
What the 6,332.18 BTC figure reflects
The daily DCA engine
The backbone of El Salvador’s accumulation remains its DCA strategy. Buying one BTC per day since November 2022 has steadily increased the base holdings regardless of short-term price moves. Independent analyses and official updates throughout 2025 showed the national stack advancing through the 6,100s, 6,200s, and 6,300s as the daily rhythm continued to compound. Put simply: even without large lump-sum buys, persistent DCA adds up—especially across multi-year horizons.
Mining adds “sovereign hash” to the stack
El Salvador is not just buying BTC; it’s also mining it. A Reuters analysis reported that the country mined nearly 474 BTC over three years using geothermal power from the Tecapa volcano. This modest but symbolically significant stream turns indigenous energy into digital reserves. As mining capacity scales or becomes more efficient, mined output can further replenish the treasury without drawing on cash balances. That “sovereign hash” angle differentiates El Salvador from many corporate treasuries that rely solely on market purchases.
Official disclosures and third-party trackers converge.
Tracking a nation’s BTC balance in real time is non-trivial, particularly when self-custody involves multiple addresses. Still, a combination of official snapshots and independent trackers helps triangulate the total:
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In May 2025, Bukele shared updated holdings in the low 6,000s, along with portfolio value and cost basis, corroborated by coverage from reputable cryptocurrency media.
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Throughout mid-2025, outlets summarizing the National Bitcoin Office (ONBTC) posts on X reported incremental increases—consistent with daily buys—moving the stack through 6,2xx BTC and beyond.
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Third-party dashboards and treasury trackers have shown government holdings in the 6,3xx BTC range, aligning with the country’s public DCA policy and periodic transparency moves.
Taken together, these threads explain how El Salvador’s reported total can reach 6,332.18 BTC as daily accumulation and mined output continue to push the tally forward, all while addresses are re-organized for security and visibility.
How the strategy evolved in 2024–2025
Security: from a single address to segmented vaulting
Custody is fundamental for any large BTC reserve. El Salvador’s progression—moving funds to cold storage in 2024 and later distributing balances across multiple addresses—tracks best practices used by exchanges, ETF custodians, and corporate treasuries. Segmenting balances reduces single-point exposure and can simplify auditing or public verification. For a government, the optics of resilient custody are as important as the controls themselves because they speak to risk management and governance.
Policy context: the IMF and program constraints
In March 2025, Reuters reported that increases in the Strategic Bitcoin Reserve remained consistent with the IMF’s program parameters—an essential signal to bondholders and multilateral partners watching fiscal risks. El Salvador has at times committed to limiting broader public-sector crypto exposure while still allowing the ONBTC to pursue its strategic reserve plan. That policy threading helps explain why the daily DCA continues even as the government navigates external oversight.
Public dashboards and on-chain accountability
Shifting reserves to multiple addresses is only half the story; publishing a public dashboard completes the loop by providing citizens and markets with a verifiable window into their holdings. ONBTC’s announcement to surface address-level data mirrors the ethos of Bitcoin transparency, letting anyone reconcile totals and track flows without compromising operational security. For a country shaping its identity around Bitcoin adoption, this is a reputational win.
Economics: what 6,332.18 BTC means in practice
Unrealized gains and cost basis
When BTC rallied in 2025, coverage of Bukele’s disclosures highlighted sizable unrealized profits relative to cumulative acquisition costs—evidence that DCA through bear cycles can produce attractive basis as markets recover. While the mark-to-market value will continue to fluctuate, the core concept remains straightforward: buying through volatility averages the entry price down, and mining reduces the need for new cash outlays.
Reserves, optionality, and monetary branding
Holding thousands of BTC gives El Salvador optionality. The government can maintain a long-term reserve, fund development projects via carefully timed sales or loans against BTC, or continue to accumulate. Even without selling, the presence of Bitcoin on national balance sheets brands the country as a crypto-forward jurisdiction, drawing builders, miners, and fintech service providers. That reputational lift—combined with infrastructure initiatives like geothermal mining—supports a broader growth story centered on tourism, investment, and innovation hubs.
Risk management and volatility
Bitcoin volatility is a feature, not a bug—and El Salvador’s approach acknowledges this. By embracing DCA and improving custody, the country has reduced timing risk and security risk, the two most material operational variables it can control. Policy alignment with external partners (like the IMF) helps mitigate funding and perception risk. The result is a structure where day-to-day price swings matter less than the multi-year trajectory of adoption, hash power, and network effects.
The role of mining: from symbolism to strategy
Volcano energy and sovereign hash rate
Mining with geothermal energy is more than a good headline; it ties energy policy to digital asset strategy. By converting clean baseload power into BTC, El Salvador can monetize otherwise stranded or underutilized capacity and diversify export revenue beyond traditional goods and remittances. As equipment and operations scale, mined BTC becomes a recurring addition to the reserve—small at first, then meaningful.
Transparency and partnerships
Reports have noted collaborations with global mining pools to validate blocks and ensure payouts, a common practice that aligns incentives across the industry. As the country publishes more on-chain details, observers can more easily attribute mined flows to national addresses, closing the loop between energy output, hashing, and reserve growth.
What to watch next
Address dashboards and auditor visibility
Expect continued emphasis on address-level transparency and the use of dashboards. As more addresses are published and integrated into open trackers, reconciliation should get easier—and disputes about totals should diminish. That’s especially important as El Salvador’s holdings approach thresholds that put it alongside top-tier institutional holders.
Regulatory and program milestones
IMF reviews, bond market reactions, and domestic policy refinements will remain key. The delicate balance is to maintain flexibility for the Strategic Bitcoin Reserve while satisfying program constraints that limit broader public-sector crypto risk. Each checkpoint will influence how aggressively the DCA engine continues to run and whether mined expansion gets prioritized.
Infrastructure: mining scale and security posture
On the infrastructure front, watch for increases in geothermal mining capacity, additional cold-storage procedures, and third-party attestations of holdings. These developments turn Bitcoin from a political symbol into a state-level capability—a more durable foundation for long-term integration into national finance.
Conclusion
El Salvador’s Bitcoin journey has matured from headline-grabbing legal-tender status to a methodical, security-conscious accumulation program. Reaching 6,332.18 BTC aligns with a pattern visible across official posts, independent trackers, and reputable reporting: the one-bitcoin-per-day DCA continues, mining steadily tops up reserves, and custody practices have advanced toward multi-address segmentation and cold storage with public dashboards for verification. While market volatility and policy scrutiny persist, the direction is set: El Salvador is building a sovereign BTC reserve with growing operational sophistication and an eye toward multi-decade optionality.
FAQs
Q: Is 6,332.18 BTC an officially fixed number?
Not exactly. Because El Salvador buys one BTC per day and reorganizes addresses, the precise figure is dynamic. Official posts and third-party trackers indicate that the stack has been moving through the 6,3xx BTC range in recent weeks; 6,332.18 BTC reflects this ongoing accumulation. Expect the total to inch higher with continued DCA and mining output.
Q: How do we know the holdings are real?
Authorities have shared periodic snapshots and moved toward address-level transparency. In 2025, the National Bitcoin Office announced plans to spread funds over multiple addresses and publish a dashboard, making public reconciliation easier. Independent outlets and trackers also corroborate totals in the same ballpark.
Q: Does the IMF allow El Salvador to keep buying BTC?
Reuters reported that the country’s increases in the Strategic Bitcoin Reserve were consistent with its IMF program, even as the broader public sector committed to limiting crypto exposure. That nuance helps explain how daily purchases have continued without violating external constraints.
Q: How much BTC has El Salvador mined so far?
A Reuters review estimated nearly 474 BTC mined over three years using geothermal power from the Tecapa volcano. Mining is still a smaller slice of the stack than purchases, but it provides a sovereign, energy-backed stream of coins.
Q: Where is the Bitcoin stored?
In 2024, President Bukele said a significant portion would be moved to cold storage in a physical vault. In 2025, ONBTC outlined a transition to multiple addresses with per-address caps and a public dashboard, reinforcing security and transparency as reserves grow.
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