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El Salvador, celebrated for making Bitcoin ineligible tender, has continued its Bitcoin buying strategy aft buying 21 BTC implicit the past week.
The information of the country’s National Bitcoin Office (ONBTC) reveals that the country’s full Bitcoin holding reached 6,068 BTC, valued astatine astir $592 million.
Bitcoin Office Reveal El Salvador Bought BTC, Source: XOn February 4, 2025, El Salvador bought 12 BTC successful 2 abstracted purchases, the archetypal was 11 BTC bought for an mean terms of $101,816 per BTC, and the 2nd was 1 BTC bought for $99,114. This latest Bitcoin acquisition by El Salvador is simply a important accumulation, arsenic the state has added 60 BTC successful the past month.
El Salvador Adds 20 BTCThe country’s archetypal people was to bargain 1 bitcoin per day. However, it has precocious exceeded this target, and it is buying larger amounts of Bitcoin successful a shorter time.
The strategy appears to beryllium accelerating, apt to instrumentality vantage of Bitcoin auctions held by the U.S. government, which typically merchantability seized Bitcoins astatine lower-than-market prices.
This determination comes aft El Salvador’s deal with the International Monetary Fund (IMF), which progressive a $1.4 cardinal loan. As per this deal, El Salvador agreed to standard backmost immoderate of its Bitcoin-related policies, similar making Bitcoin acceptance optional for businesses and winding down the state-backed Chivo wallet.
El Salvador remains committed to increasing its Bitcoin reserves and continues connected the mode of utilizing Bitcoin successful its fiscal system. The state added 11 BTC connected January 9 arsenic good arsenic connected January 20.
Other countries are looking astatine El Salvador’s Bitcoin strategy and considering gathering their reserves. The United States is the astir notable, with countries similar Brazil, the Czech Republic, and Poland besides exploring the idea.
Also Read: Tether is moving its HQ to El Salvador After Securing License
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