El Salvador Increases Bitcoin Holdings to 6,068 BTC Amid Continued Accumulation
El Salvador has expanded its Bitcoin reserves by acquiring 12 additional BTC, bringing its total holdings to 6,068 BTC. This accumulation follows a $1.4 billion agreement with the International Monetary Fund (IMF), highlighting the country’s continued commitment to Bitcoin despite recent policy adjustments.
Key Highlights:
- 12 BTC added to El Salvador’s national reserves, now totaling 6,068 BTC (~$554 million).
- The latest purchases included 11 BTC for $1.1 million (at an average price of $101,816 per BTC) and one additional BTC for $99,114.
- The country has accumulated 21 BTC in the past week and 60 BTC over the past month as part of its Strategic Bitcoin Reserve initiative.
El Salvador’s Bitcoin Strategy and IMF Agreement
In January 2024, President Nayib Bukele finalized a $1.4 billion financing deal with the IMF, prompting adjustments in El Salvador’s Bitcoin policies. Under this agreement:
- Bitcoin adoption became voluntary for the private sector.
- The government scaled back its role in the Chivo crypto wallet.
- Legislative changes to Bitcoin-related laws were swiftly approved on January 29 to align with IMF recommendations.
Despite these changes, El Salvador remains committed to Bitcoin, with National Bitcoin Office Director Stacy Herbert affirming that the country’s long-term BTC strategy remains intact.
El Salvador Strengthens Crypto-Friendly Environment
Further solidifying its position as a pro-crypto nation, El Salvador recently attracted Tether, a leading stablecoin issuer, which relocated its headquarters to the country due to its crypto-friendly policies. Additionally, President Bukele personally invited Rumble CEO Chris Pavlovski to consider moving his company to El Salvador.
With its ongoing Bitcoin accumulation, supportive regulations, and global crypto partnerships, El Salvador continues to position itself as a pioneer in Bitcoin adoption and digital finance.
