El Salvador Expands Bitcoin Holdings Despite Slump in Crypto Remittances

El Salvador continues steady Bitcoin accumulation, adding 32 BTC in 30 days, even as public crypto remittance usage declines sharply.

Despite reduced crypto inflows, El Salvador's treasury wallet reflects a deliberate strategy to grow Bitcoin reserves with consistency.

Crypto remittances dropped 44.5% in Q1 2025 as citizens revert to traditional channels, limiting Bitcoin's real-world utility locally.

El Salvador has continued its steady accumulation of Bitcoin, adding 9 BTC this past week. The country's total Bitcoin treasury now is at 6,207.18 BTC, valued at over $654 million. According to bitcoin.gob.sv, the nation added 32 BTC in the last 30 days alone. These recent acquisitions reflect a deliberate and consistent buying pattern, with no sell-offs or sudden volume spikes recorded.

The data, sourced from El Salvador’s official treasury portal, shows a staircase-like chart trend. The country’s wallet grew from approximately 6,180 BTC on May 15 to 6,207 BTC by June 13. Additionally, daily acquisitions show a cautious yet unwavering commitment to expanding national reserves. While retail investors await market dips, El Salvador continues stacking Bitcoin with noticeable conviction.

Remittances Through Crypto Plummet Sharply

However, not all indicators point upward. New data from the Central Bank of El Salvador reveals a sharp drop in crypto-based remittances. In Q1 2025, the country received only $16 million in crypto remittances. This is a 44.5% decline compared to $28.83 million recorded during the same period in 2024.

Besides, crypto now contributes just 0.52% of the total $3 billion remittance volume sent to El Salvador. Hence, the impact of Bitcoin on financial flows is limited. Traditional money transfer services dominate, despite higher fees and slower settlement times.

Public Sentiment and Policy Impact

The local media links this decline to a perceived shift in government policy. Reports suggest a recent “confinement” of Bitcoin within the public sector. Additionally, the reduced visibility of BTC in public life may have discouraged its use for daily transactions.

Moreover, analysts believe the reduced promotion of Bitcoin as legal tender has weakened public interest. Consequently, citizens have reverted to legacy banking and remittance systems. These methods offer familiarity, even if less efficient. Bitcoin trades at $104,576 today, with a 0.60% dip in the last 24 hours, according to CoinMarketCap. Its 24-hour trading volume stands at $39.5 billion, indicating steady market activity.

The post El Salvador Expands Bitcoin Holdings Despite Slump in Crypto Remittances appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.