El Salvador’s National Bitcoin Office signals potential launch of first Bitcoin banks while the nation’s BTC reserves hit 6,263 coins valued at $730 million.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
2 mins read
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.
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 highest on record.
El Salvador’s push toward Bitcoin banking infrastructure highlights the growing need for comprehensive crypto wallet solutions. Best Wallet (BEST) has capitalized on this trend, with its presale crossing $14 million as institutions and retail users seek advanced Bitcoin management tools.
Best Wallet Token Presale
The timing aligns with El Salvador’s financial evolution, where Bitcoin banks will require sophisticated wallet infrastructure to serve both institutional and retail clients. Best Wallet’s features—including priority access to project listings, reduced transaction fees, and high-APY staking rewards—position it to support the expanding Bitcoin economy that El Salvador is pioneering.
Early BEST investors can secure access before the next price tier unlocks, potentially benefiting from the broader Bitcoin adoption wave that El Salvador continues to lead.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
