{"id":911662,"date":"2026-06-10T10:11:52","date_gmt":"2026-06-10T15:11:52","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/06\/10\/five-years-on-el-salvador-is-still-buying-bitcoin\/"},"modified":"2026-06-10T10:11:52","modified_gmt":"2026-06-10T15:11:52","slug":"five-years-on-el-salvador-is-still-buying-bitcoin","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/06\/10\/five-years-on-el-salvador-is-still-buying-bitcoin\/","title":{"rendered":"Five Years On, El Salvador Is Still Buying Bitcoin"},"content":{"rendered":"<div data-td-block-uid=\"tdi_63\">\n<p>Five years ago yesterday, El Salvador\u2019s Congress voted 62-to-22 to pass the world\u2019s first Bitcoin Law, making the small Central American nation the first country on earth to grant bitcoin legal tender status.\u00a0<\/p>\n<p>The date was June 8, 2021. Half a decade later, the government <a href=\"https:\/\/bitcointreasuries.net\/governments\/el-salvador\" target=\"_blank\" rel=\"noopener\">holds<\/a> 7,677 BTC worth approximately $480 million \u2014 and it is still accumulating.<\/p>\n<p>The country has run a dollar-cost averaging strategy since President Nayib Bukele <a href=\"https:\/\/bitcoinmagazine.com\/el-salvador-bitcoin-news\/beyond-bukele-sustaining-el-salvadors-orange-wave-of-freedom\">announced<\/a> 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, <a href=\"https:\/\/bitcoinmagazine.com\/el-salvador-bitcoin-news\/el-salvador-buys-more\">including<\/a> a tactical purchase of over 1,000 BTC in a single week during a November market dip.\u00a0<\/p>\n<p>At the start of 2026, the Bitcoin Office declared the country was going \u201call in\u201d on both bitcoin and artificial intelligence.<\/p>\n<p>That conviction survived a major policy reversal. In January 2025, Bukele\u2019s administration <a href=\"https:\/\/www.bbc.com\/news\/articles\/c20e3l3xllwo\" target=\"_blank\" rel=\"noopener\">stripped<\/a> 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 \u2014 the centerpiece of Bukele\u2019s original pitch \u2014 is being phased out.\u00a0<\/p>\n<p>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.<\/p>\n<figure>\n<div>\n<blockquote data-width=\"550\" data-dnt=\"true\">\n<div lang=\"en\" dir=\"ltr\">\n<p>5 years ago, El Salvador passed the first &#8216;Bitcoin Law&#8217; that regulated BTC as legal tender \ud83c\uddf8\ud83c\uddfb<\/p>\n<p>Today, they now own 7,677 BTC worth $480 million. <a href=\"https:\/\/t.co\/RA7HUmwLvO\">pic.twitter.com\/RA7HUmwLvO<\/a><\/p>\n<\/div>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/2064331484136182130?ref_src=twsrc%5Etfw\">June 9, 2026<\/a><\/p><\/blockquote>\n<p><template data-nitro-marker-id=\"83b926d767a9ed3e82c910cc56deb9c5-1\"><\/template><template data-nitro-marker-id=\"b5f5b6f5e0c606960f99a654a6a9b0f2-1\"><\/template> <\/div>\n<\/figure>\n<h2>El Salvador: No taxes on bitcoin<\/h2>\n<p>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 \u201cVolcano Bond\u201d <a href=\"https:\/\/fortune.com\/2021\/11\/22\/el-salvador-cryptocurrency-bitcoin-bonds-volcano-powered-tax-free-city-nayib-bukele\/\" target=\"_blank\" rel=\"noopener\">backed<\/a> by bitcoin and a proposed Bitcoin City powered by geothermal energy.<\/p>\n<p>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 \u2014 personal transfers from abroad equal <a href=\"https:\/\/finance.yahoo.com\/news\/nayib-bukele-says-bought-other-223115983.html\" target=\"_blank\" rel=\"noopener\">roughly<\/a> 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.<\/p>\n<\/p><\/div>\n<div data-td-block-uid=\"tdi_75\">\n<p><a href=\"https:\/\/bitcoinmagazine.com\/authors\/micahzimmerman\" title=\"Micah Zimmerman\"><img loading=\"lazy\" alt=\"Micah Zimmerman\" height=\"117\" width=\"117\" nitro-lazy-srcset=\"https:\/\/cdn-ileamcn.nitrocdn.com\/BngESKHdyFjXuZbvyAhEMmtQtwLKSKkU\/assets\/images\/optimized\/rev-330f1d6\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg 2x\" nitro-lazy-src=\"https:\/\/cdn-ileamcn.nitrocdn.com\/BngESKHdyFjXuZbvyAhEMmtQtwLKSKkU\/assets\/images\/optimized\/rev-330f1d6\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg\" decoding=\"async\" nitro-lazy-empty id=\"MTE1MzozMDUx-1\" data-nitro-empty-id=\"MTE1MzozMDUx-1\" src=\"data:image\/svg+xml;base64,PHN2ZyB2aWV3Qm94PSIwIDAgMjAwMCAyMDAwIiB3aWR0aD0iMjAwMCIgaGVpZ2h0PSIyMDAwIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\"><\/a><\/p>\n<div>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/authors\/micahzimmerman\">Micah Zimmerman<\/a><\/p>\n<p>Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/news\/five-years-on-el-salvador-bitcoin\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Micah Zimmerman<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Five years ago yesterday, El Salvador\u2019s Congress voted 62-to-22 to pass the world\u2019s first Bitcoin Law, making the small Central American nation the first country on earth to grant bitcoin legal tender status.\u00a0 The date was June 8, 2021. Half a decade later, the government holds 7,677 BTC worth approximately $480 million \u2014 and it<\/p>\n","protected":false},"author":1,"featured_media":911663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3962,725],"tags":[],"class_list":["post-911662","post","type-post","status-publish","format-standard","has-post-thumbnail","category-salvador","category-years"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/911662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=911662"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/911662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/911663"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=911662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=911662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=911662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}