- El Salvador purchased 12 BTC, raising its total reserve to 6,068 BTC.
- Bitcoin acquisitions have continued following a $1.4 billion agreement with the IMF.
El Salvador continues to expand its BTC holdings despite recent policy changes. On February 4, the Central American nation added 12 Bitcoins to its reserves, increasing the total to 6,068 BTC, valued at over $554 million. The government purchased 11 Bitcoin for about $1.1 million, averaging $101,816 per BTC. Later, an additional BTCwas acquired for $99,114.
The recent BTC purchases follow a broader trend of consistent accumulation by El Salvador. According to the Bitcoin Office, the country bought 21 BTC in the past week, with 60 BTC acquired over the past 30 days.
These acquisitions support El Salvador’s vision of building the world’s first Strategic BTC Reserve. The country’s commitment to BTC is evident, even as it adapts policies to comply with its agreement with the International Monetary Fund (IMF).
El Salvador’s Bitcoin Strategy
Last month, President Nayib Bukele reached a $1.4 billion financing agreement with the IMF. As part of this deal, El Salvador agreed to adjust some of its BTC policies. Specifically, the government made Bitcoin adoption voluntary for the private sector and reduced its involvement in the Chivo crypto wallet.
Additionally, El Salvador’s Congress quickly passed legislation on January 29 to amend its BTC laws in response to the IMF’s concerns. The day after finalizing the IMF agreement, the country purchased $1 million worth of BTC . National Bitcoin Office Director Stacy Herbert emphasized that the country’s long-term Bitcoin strategy remains unchanged.
Tether, a leading stablecoin issuer, recently moved its headquarters to El Salvador, praising the country’s crypto-friendly regulations. Additionally, President Bukele encouraged Rumble CEO Chris Pavlovski to consider relocating to El Salvador as well.
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