Bitcoin Banks Coming to El Salvador? Cryptic Government Post Sparks Speculation
The post Bitcoin Banks Coming to El Salvador? Cryptic Government Post Sparks Speculation appeared on BitcoinEthereumNews.com.
Key Notes El Salvador may launch Bitcoin banks following cryptic signals from its National Bitcoin Office, requiring $50M capital. The nation now holds 6,263 BTC worth over $730 million with unrealized profits exceeding $228 million at record highs. Best Wallet presale reaches $14 million amid growing demand for Bitcoin infrastructure solutions in emerging markets. A cryptic post from El Salvador’s National Bitcoin Office (ONBTC) has signaled the sovereign Bitcoin BTC $116 905 24h volatility: 0.5% Market cap: $2.33 T Vol. 24h: $31.40 B investor may be preparing to launch its first Bitcoin banks. While no structural details or launch timelines were revealed, the development aligns with the nation’s ongoing push to deepen Bitcoin integration into its financial system. 🇸🇻🚀 pic.twitter.com/DEGUKMmhfd — The Bitcoin Office (@bitcoinofficesv) August 8, 2025 The move follows a government-backed proposal to create a private investment bank operating in both Bitcoin and US dollars, requiring a minimum of $50 million in capital. This fits into El Salvador’s broader strategy of expanding crypto adoption since making Bitcoin legal tender in 2021. This includes building BTC reserves, attracting crypto mining investment, and loosening regulations for private banks managing digital assets. Bitcoin Holdings and Profitability Strategy Strengthen Fiscal Position On-chain data from NayibTracker shows El Salvador now holds 6,263 BTC, valued above $730 million at current market prices. Despite skepticism from international lenders such as the IMF, El Salvador’s BTC holdings are now a significant fiscal asset. El Salvador Bitcoin (BTC) Holdings, Aug. 8, 2025 | NayibTracker President Nayib Bukele’s administration continues to accumulate BTC indirectly through mining and tourism-linked revenue rather than large market purchases. This gradual accumulation approach reduces exposure to price volatility while allowing the country to compound long-term gains. At press time, as Bitcoin trades just above $117,000, the nation’s unrealized profits exceeded $228 million, their…
Filed under: News - @ August 8, 2025 11:26 pm