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• El Salvador verteilt seine staatlichen Bitcoin-Reserven auf viele kleinere Adressen, um potenzielle Risiken zu reduzieren.
• Grund dafür sind theoretische Gefahren durch künftige Quantencomputer.
• Experten sind sich uneinig, ob diese Bedrohung schon realistisch ist, doch das Land setzt frühzeitig auf Vorsorge.

El Salvador als Bitcoin-Pionier

El Salvador schrieb 2021 Geschichte, als das Land Bitcoin als offizielles Zahlungsmittel neben dem US-Dollar einführte. Unter Präsident Nayib Bukele wurde dazu ein spezielles Gesetz verabschiedet, das den digitalen Token auf eine Stufe mit der Landeswährung stellte. Damit begann ein wirtschaftliches Experiment, das weltweit für Aufmerksamkeit sorgte und zugleich viele Diskussionen auslöste.

Von Anfang an kaufte die Regierung aktiv Bitcoin mit Staatsmitteln ein. Bukele nutzte Marktbewegungen geschickt aus, um die Bestände weiter aufzustocken. Heute besitzt das Land nach offiziellen Angaben 6.285 Bitcoin, was die Entschlossenheit seiner Politik zeigt. Anfang diesen Jahres wurde der Status der Währung für Bitcoin jedoch wieder zurückgezogen. Grund dafür ist zu einem die schlechte Wirtschaftslage und hohe Verschuldung des Landes, außerdem war die Entscheidung, BTC als Landeswährung einzuführen, in der Bevölkerung eher unbeliebt.

Die Rolle des Bitcoin Office

Für Transparenz sorgt das staatliche Bitcoin Office, das regelmäßig Informationen zu den Beständen veröffentlicht. Diese Praxis hebt El Salvador von vielen anderen Staaten ab, da die Entwicklung der Reserven öffentlich dokumentiert wird. Bürger und internationale Beobachter können so nachvollziehen, wie sich das Engagement des Landes im Kryptomarkt entwickelt.

El Salvador is moving the funds from a single Bitcoin address into multiple new, unused addresses as part of a strategic initiative to enhance the security and long-term custody of the National Strategic Bitcoin Reserve. This action aligns with best practices in Bitcoin…

— The Bitcoin Office (@bitcoinofficesv) August 29, 2025

Doch mit den wachsenden Beständen kamen auch Fragen zur Sicherheit auf. Bitcoin ist zwar durch seine Blockchain-Technologie dezentral geschützt, doch einzelne Verwahrungsstrategien können Schwachstellen aufweisen. El Salvador reagierte nun auf diese Kritik und kündigte eine neue Strategie an.

Neue Sicherheitsstrategie

Das Bitcoin Office teilte offiziell mit, dass die Bestände nicht mehr zentral in einer Adresse liegen. Stattdessen werden die 6.285 Bitcoins auf viele ungenutzte Adressen verteilt. Jede Adresse soll maximal 500 BTC enthalten, um das Risiko bei Angriffen deutlich zu verringern.

Der Schritt hat klare Vorteile: Private Schlüssel, die bisher auf einer bekannten Adresse öffentlich sichtbar waren, bleiben bei den neuen Adressen verborgen, solange sie nicht verwendet werden. Damit sinkt die Angriffsfläche und die Reserven sind sicherer vor potenziellen Angriffen.

Quantencomputer als Auslöser

Hintergrund dieser Entscheidung ist die Debatte um mögliche Bedrohungen durch Quantencomputer. Forscher verweisen darauf, dass Shor’s Algorithmus theoretisch in der Lage wäre, aktuelle Verschlüsselungssysteme zu knacken. Bitcoin wäre damit langfristig gefährdet, wenn die Technologie die nötige Rechenleistung erreicht.

El Salvador will diesem Szenario vorbeugen. Die Regierung zeigt, dass sie die Diskussion ernst nimmt und ihre Reserven schon heute vor einem Risiko absichert, das möglicherweise erst in vielen Jahren Realität wird.

Expertenmeinungen zum Risiko

Viele Analysten halten die Vorsorge für sinnvoll, betonen jedoch, dass Quantencomputer aktuell noch nicht in der Lage sind, Bitcoin effektiv anzugreifen. Heutige Systeme verfügen lediglich über wenige Hundert Qubits und sind zudem fehleranfällig. Für einen realen Angriff wären Millionen stabiler Qubits nötig.

Kritiker argumentieren daher, dass kurzfristig keine Bedrohung besteht und die Zukunft für Bitcoin vorerst sicher ist. Sie verweisen darauf, dass die meisten Bitcoin ohnehin auf Adressen liegen, deren öffentliche Schlüssel noch nicht preisgegeben wurden. Diese gelten selbst bei fortschreitender Quantenforschung als sicher.

Transparenz bleibt erhalten

Trotz der sicherheitsorientierten Neuausrichtung hält El Salvador am Prinzip der Transparenz fest. Das Bitcoin Office hat ein neues Dashboard veröffentlicht, auf dem die offiziellen Reserve-Adressen eingesehen werden können. Bürger und Beobachter können so weiterhin den Überblick behalten.

Damit gelingt es dem Land, Sicherheit und Offenheit miteinander zu verbinden. El Salvador bleibt so seiner Linie treu, neue Wege im Umgang mit Kryptowährungen zu beschreiten, ohne Vertrauen durch Geheimhaltung zu gefährden.

Fazit und Ausblick

El Salvador setzt ein deutliches Signal: Sicherheit geht vor, auch wenn die Bedrohung derzeit noch weit entfernt ist. Mit der neuen Strategie will das Land langfristig vorbereitet sein und zugleich Vertrauen in seine Bitcoin-Politik stärken.

Ob andere Länder diesem Beispiel folgen, bleibt abzuwarten. Klar ist jedoch, dass El Salvador erneut eine Vorreiterrolle einnimmt und die globale Debatte um Kryptowährungen und Quantencomputer neu belebt hat. Während Bitcoin in El Salvador vor allem wegen seiner Sicherheit und Wertstabilität als Wertspeicher dient, macht sich ein “neuer” Bitcoin daran, die Herzen der Investoren zu erobern.

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El Salvador’s legislature has approved major constitutional reforms that will significantly reshape the country’s political structure and electoral timelines.

The new bill, passed on July 31 by 57 lawmakers, enables indefinite presidential re-election, extends the length of presidential terms from five to six years, and removes the need for second-round runoffs in elections.

Crucially, the changes also bring forward the end of President Nayib Bukele’s current term from June 2029 to June 2027. This alignment of presidential and legislative elections means Bukele could now seek another term two years earlier than previously scheduled.

Proponents of the reforms say the moves will enhance institutional stability, reduce election costs, and attract more foreign investment by providing political continuity. They also claimed the overhaul is designed to “stabilize electoral periods” and reduce what they described as a constant state of political campaigning.

Notably, these amendments come just one year after Bukele secured a second term, despite constitutional provisions that had previously barred immediate re-election.

What does this mean for Bitcoin?

President Bukele has positioned El Salvador as a bold experiment in crypto-driven governance. In 2021, the country made history by adopting Bitcoin as legal tender, which drew international praise and skepticism.

Since then, the government has built up a strategic Bitcoin reserve and enabled the use of the crypto for daily transactions, tax payments, and public services.

Considering this, Stacy Herbert, who leads the government’s Bitcoin Office, said the electoral reform would allow the country to continue its current economic trajectory.

According to her:

“The days of chaos, violence, and despair are gone for good. El Salvador will remain on the path to greatness.”

Meanwhile, Max Keiser, a senior advisor on Bitcoin policy, offered a more radical take on the reforms, saying El Salvador would become the Singapore of Central America under Bukele.

He stated:

“El Salvador’s governance model follows Bitcoin. It’s not a ‘Democracy,’ it’s Bitcoin Country. It’s a STARTUP NATION — and as I told The New Yorker 3 yrs ago, Bukele is a cross between JFK & Steve Jobs.”

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Bolivia is taking a major step toward embracing cryptocurrencies by forming a strategic alliance with El Salvador.

On July 30, the Central Bank of Bolivia (BCB) and El Salvador’s National Commission of Digital Assets (CNAD) signed a memorandum of understanding to support the exchange of expertise in digital asset regulation and blockchain technologies.

This partnership will enable both countries to collaborate on key areas such as blockchain intelligence, regulatory frameworks, and risk management tools.

El Salvador, led by President Nayib Bukele, has become a global example of crypto adoption. It was the first country to make Bitcoin legal tender and has continued to expand its crypto reserves through daily purchases.

While international bodies like the IMF have criticized these steps, El Salvador has mostly maintained its course by implementing new pro-crypto regulations. These actions have attracted crypto firms like Tether to the Central American country.

Bolivia’s crypto ecosystem

Bolivia aims to use the El Salvador experience to implement and oversee crypto-related policies. Officials say the agreement is part of a broader effort to build safe, well-regulated crypto ecosystems that could attract foreign investment and promote financial innovation.

Bolivian authorities highlighted the growing relevance of digital assets in cross-border transactions and acknowledged the value of El Salvador’s early adoption of crypto in shaping their own policy path.

The partnership follows a significant policy change in Bolivia. In June 2024, the government passed Resolution 082/2024, overturning a long-standing crypto ban.

The new regulation legalized digital assets for trading and allowed electronic payment methods to support transactions.

As a result, Bolivia saw a surge in crypto activity. Transaction volumes jumped from $46.5 million to nearly $294 million between June 2024 and June 2025.

To further integrate crypto into its economy, Bolivia authorized its national oil company, YPFB, to use digital currencies for fuel imports. The decision helps manage foreign exchange shortages and maintain fuel subsidies amid economic pressures.

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Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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July 21, 2025

El Salvador has not made any new Bitcoin purchases since February 2025, according to a new report released by the International Monetary Fund (IMF) on July 15.

The disclosure directly contradicts President Nayib Bukele’s long-standing public claim that his government has been buying one Bitcoin per day.

The IMF’s findings were included in the first formal review of the country’s Bitcoin program since El Salvador secured a $1.4 billion loan agreement in December 2024.

IMF Lauds El Salvador’s Bitcoin Reforms, Confirms Policy Shift

A letter signed by Central Bank President Douglas Pablo Rodríguez Fuentes and Finance Minister Jerson Rogelio Posada Molina confirmed that “the stock of Bitcoins held by the public sector remains unchanged.”

The IMF report also revealed that El Salvador is moving to scale back its public involvement in Bitcoin-related services. One of the key changes includes reducing the role of the Chivo wallet, the state-backed digital asset platform, and ultimately ending its operation by July 2025.

The Chivo wallet, once promoted as a centerpiece of the country’s Bitcoin adoption, will be shut down from public control, and the IMF clarified that while the wallet will remain operational, it must be fully privatized and no longer run on government funds.

The report noted that although on-chain activity shows BTC moving between wallets, these are not new acquisitions. Instead, the transactions reflect internal transfers between cold and hot wallets.

The IMF emphasized that these movements had led to a “misinterpretation” of El Salvador’s Bitcoin activity. Officials further argue that reallocated reserves or assets obtained through legal seizures do not qualify as state-backed Bitcoin buys.

According to the El Salvador Bitcoin Office, El Salvador currently holds about 6,244 BTC, worth roughly $742 million.

While some reports suggested an 8 BTC increase last week, the IMF attributes this to technical accounting, not fresh buys.

The IMF praised the updated Bitcoin policy for reducing fiscal risk and strengthening transparency. It said these steps were helping to stabilize inflation and restore macroeconomic stability in the country.

Official vs. On-Chain: The Bitcoin Mystery Behind El Salvador’s Treasury

Despite growing public interest in sovereign Bitcoin reserves, the IMF is pushing El Salvador to treat BTC as a financial asset with risk exposure, not as a currency.

As part of the agreement, Bitcoin is no longer considered mandatory legal tender.

While the Salvadoran government insists it is still “stacking sats,” the IMF’s statement indicates otherwise. The divergence in interpretation has added fuel to a broader debate around sovereign BTC holdings.

Some blockchain analysts, including firms like Arkham, have observed steady 1 BTC per day transfers from exchanges like Binance and Bitfinex to addresses reportedly linked to the Salvadoran government. Still, whether these are official purchases or private transactions remains unclear.

Other governments and companies continue to expand their Bitcoin treasuries. Japan’s Metaplanet recently acquired 797 Bitcoin for $93.6 million. On Tuesday, the firm announced plans to purchase a digital bank to expand its crypto services.

Meanwhile, The Blockchain Group in France and the UK’s Smarter Web Company added over 340 BTC combined. Strategy, the first Bitcoin treasury company, posted $14 billion in unrealized gains in Q2 2025.

Compared to this international trend, El Salvador’s quiet pause signals a shift. The IMF is scheduled to conduct further reviews in September and December 2025 to track compliance.

For now, El Salvador’s public BTC balance appears to be holding steady, with no new government-funded purchases. The IMF says the country is sticking to its agreement. The Bukele administration says otherwise.

With Bitcoin’s price nearing record highs, the divide between official reporting and on-chain speculation is likely to grow. The next few months may prove decisive in shaping the future of sovereign crypto strategy.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A new report has shaken up El Salvador’s bold Bitcoin story. All year long, President Nayib Bukele and the National Bitcoin Office promised they were buying one BTC every day.

Public trackers even showed holdings climbing past 6,102 BTC. Yet the IMF’s July 15 Article IV consultation says there were no new purchases since the $1.4 billion Extended Fund Facility was approved in December 2024.

Internal Wallet Moves Created Illusion Of Buying

According to the IMF report, the rise in public‑sector Bitcoin didn’t come from fresh spending. Instead, government‑owned wallets moved coins around.

Those transfers made balances pop up on public dashboards. But those were just internal shifts. They didn’t draw on taxpayer money or involve the market. Small ups and downs in the Chivo e‑wallet also came from internal corrections, not new deposits.

Turns out the IMF did in fact make El Salvador stop Bitcoin purchases in order to get a fiat loan.

Footnote #9 states they have just been making it appear as if they have been continuing to buy but in fact have just been consolidating multi government wallets.

Source :… pic.twitter.com/46AFU1oi08

— Magoo PhD (@HodlMagoo) July 17, 2025

Pressure On Bitcoin Legal Tender Reversal

Back in 2021, El Salvador grabbed headlines by making Bitcoin legal tender. That move set off cheers and warnings around the world. Reports show the country flipped that decision in January 2025 under pressure from international lenders.

They stripped Bitcoin of its legal‑tender status and agreed to stop using public funds for more coins. The IMF now confirms those promises held true.

Deadline Looms For Chivo E‑Wallet Exit

Based on reports, the government must end public‑sector involvement in the Chivo system by July 31, 2025. That date is just around the corner. El Salvador has also promised to unwind Fidebitcoin, the public Bitcoin trust it set up. Both steps aim to boost fiscal transparency and keep the Extended Fund Facility on track.

El Salvador President Nayib Bukele. Source: Getty Images

Analysts Eye Trust And Transparency Questions

Some experts say the big takeaway is about trust. Shuffling coins between wallets while claiming new buys can hurt the government’s credibility. Citizens and investors could start to wonder what else might be spun into a story.

Image: REUTERS/Johannes P. Christo/File Photo

Even if no fresh money changed hands, the mismatch between claims and reality has put a spotlight on how data gets shared.

The IMF gave credit for meeting its program targets. Yet the coming weeks will show if the government follows through on all its commitments.

Clearing out Chivo and dissolving Fidebitcoin are major moves. If El Salvador sticks to the plan, it could reset its narrative. If not, skeptics will find new reasons to doubt every future Bitcoin announcement.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Pakistan and El Salvador have formalized diplomatic relations for the first time, anchoring the partnership on crypto collaboration and digital asset development, according to a July 16 announcement.

The presser followed a meeting in San Salvador between Bilal Bin Saqib, special assistant to Pakistan’s prime minister on crypto and blockchain, and El Salvador’s President Nayib Bukele.

Saqib also heads the Pakistan Crypto Council, which has played a key role in shaping the country’s emerging digital asset strategy.

According to a statement from Pakistan’s ministerial office, the two nations agreed to share expertise and build cooperation on blockchain policy.

This marks a significant step for Pakistan as it embraces crypto technology despite constraints under its loan program with the International Monetary Fund.

The South Asian country is currently operating under a $7 billion IMF facility that runs until 2027. While the country seeks to remain compliant with its obligations, the government is simultaneously advancing a broad crypto agenda.

That includes setting aside 2,000 megawatts of power for Bitcoin mining, planning a national Bitcoin (BTC) reserve, and launching the Pakistan Digital Assets Authority in May to oversee crypto regulation.

Saqib’s visit also builds on a letter of intent signed earlier this year between the Pakistan Crypto Council and World Liberty Financial, a firm linked to the Trump family, aiming to accelerate blockchain adoption across the country.

El Salvador, which adopted Bitcoin as legal tender in 2021, has emerged as a global pioneer in crypto policy under Bukele’s leadership. To date, the country has accumulated over 6,000 Bitcoins, and its crypto treasury is estimated at over $700 million.

Despite international scrutiny, particularly from the IMF, El Salvador has continued to promote digital assets as part of its national strategy, an approach that now appears to be influencing Pakistan’s evolving financial policy.

Crypto remains popular in Pakistan despite regulatory uncertainty. Estimates suggest that between 20 million to 40 million Pakistanis either hold some form of digital currency or have interacted with digital assets for their financial needs.

As the country faces growing fiscal pressures and seeks new avenues for innovation and growth, its partnership with El Salvador may signal a strategic pivot toward a blockchain-driven economic future.

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Japanese investment firm Metaplanet has added another $129 million to its Bitcoin treasury, pushing its total holdings past the Bitcoin-stacking country of El Salvador. 

“Metaplanet now holds more Bitcoin than El Salvador. From humble beginnings to rivaling nation-states, we’re just getting started,” said CEO Simon Gerovich on X after the latest purchase announcement. 

On May 12, the Tokyo-listed firm announced that it had acquired 1,241 Bitcoin (BTC) for 14.8 million yen ($101,843) per coin.

The total buy, at its highest ever purchase price, is worth around $129 million at current market prices. 

This brings the firm’s total holdings to 6,796 Bitcoin, currently worth around $707 million, and the average purchase price is $91,000 per Bitcoin. Metaplanet started its BTC accumulation strategy in April 2024. 

El Salvador is the sixth-largest nation-state holder of the asset with 6,714 Bitcoin worth around $642 million, according to the National Bitcoin Office.

The Japanese investment firm also reported a Bitcoin Yield, which measures the ratio of percentage change in Bitcoin holdings per fully diluted share, of 38% for the current quarter to date. The firm achieved a BTC Yield of 95.6% during the first quarter of 2025. 

Related: Trump’s US-China trade deal could shed light on Bitcoin’s use case

Metaplanet has been more aggressive in its accumulation of the asset in recent months, with a purchase of 5,555 Bitcoin on May 7, four purchases in April totaling 18,586 BTC, and six purchases in March totaling 18,925 BTC, each buy larger than the previous. 

The firm is the largest holder of Bitcoin in Asia and the tenth largest globally, according to BiTBO. 

Saylor hints at another buy 

Meanwhile, Michael Saylor hinted at another purchase by his firm, Strategy, on May 12, by posting a screenshot of the “Saylor Tracker” chart, which tracks the firm’s Bitcoin treasury portfolio. “Connect the dots,” was the accompanying comment. 

Saylor has made similar Monday posts with a cryptic comment many times in the past, which have been followed by a BTC acquisition announcement. 

Strategy currently holds 555,450 BTC worth around $57.8 billion at current prices, according to the tracker. 

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