El Salvador’s National Bitcoin 
$76,429 Office has taken significant steps to enhance the security of its Bitcoin reserves by redistributing its 6,300 BTC across 14 different addresses. Previously, the entire reserve was held in a single address. Officials argue that this strategy builds a more resilient structure against potential threats from quantum computers.
Why Was the Bitcoin Reserve Split into 14 New Addresses?
According to information on the National Bitcoin Office’s website, the country’s current reserve stands at 6,284 BTC, valued at over 682 million dollars at today’s prices. The coins, which were previously held in a single address, were transferred to 14 new addresses last Friday. Blockchain data shows that no single address holds more than 500 BTC. Authorities emphasize that distributing addresses is critical for risk management.
The statement highlights that the approach aligns with best practices in Bitcoin management and prepares for the future development of quantum computers. By using unused Bitcoin addresses with keys visible only as hash values, greater protection against potential cryptographic threats is achieved. The goal is to prevent the nation’s reserves from being concentrated in a single point.
Quantum computers are seen as a long-term threat to the ECDSA signing mechanism used within the Bitcoin network. Analysts believe it could take decades for this risk to materialize practically. Nonetheless, El Salvador has already updated its reserve strategy to account for this possibility.
IMF Reports vs. Daily BTC Purchase Claims
The National Bitcoin Office claims that a directive from President Nayib Bukele mandates the purchase of one BTC daily. This is a key component of the country’s official stance on growing its Bitcoin reserve. However, an IMF report published in July contradicts these claims. It stated, with signatures from the central bank president and finance minister, that the public sector did not purchase any BTC since February.
These claims are linked to conditions of a credit agreement with the IMF. The report has sparked significant public debate. Despite this, the National Bitcoin Office continues to declare daily purchases via the social media platform X. To date, neither Bukele nor the office has directly addressed the allegations in the IMF report.
