Basri Caneri 
El Salvador has once again demonstrated its commitment to Bitcoin, purchasing another 12 BTC, bringing its total reserves to 6,044 BTC. The National Bitcoin Office (ONBTC) announced the purchases in two separate transactions, 11 BTC on January 19 and 1 BTC on January 20. The purchases follow the country’s $1.4 billion agreement with the IMF in 2024 to limit the use of Bitcoin.
As part of the agreement, the IMF required El Salvador to limit the use of BTC in the public sector and make acceptance voluntary in the private sector. However, the government announced that it would maintain BTC’s legal currency status and continue to increase its reserves through a regular savings (DCA) strategy. “We will win slowly and steadily and hold Bitcoin with diamond hands,” ONBTC said in a statement during this process.
The IMF and El Salvador: Contrasting Strategies
President Nayib Bukele’s policies, which see Bitcoin as the key to economic development and independence, have been widely criticized by international organizations. The IMF warned of risks to financial stability after El Salvador declared BTC a legal tender in 2021. However, by 2024, the IMF acknowledged that these risks had not yet materialized and called on the government to take measures to increase transparency.
However, the IMF also noted that while the BTC strategy is risky, these policies could create economic opportunities. By facilitating access to financial services, especially for low-income citizens, the Bitcoin policy supports the country’s financial inclusion goals.
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Bitcoin Mining with Volcanic Energy
El Salvador’s policy is not limited to a procurement strategy. The country mines BTC using volcanic energy sources. This innovative method offers an environmentally friendly alternative and reduces mining costs. To date, 463 BTC have been produced using this method. Volcanic energy also allows the country to promote its renewable energy potential globally.
Bitcoin’s New Peak and El Salvador’s Determination
The latest purchases came at a time when the BTC price was highly volatile. El Salvador’s move demonstrates once again that it sees Bitcoin not only as an economic investment, but also as a long-term development strategy.
Under President Bukele’s leadership, the country’s Bitcoin policy presents both risks and opportunities. But the government’s commitment has made El Salvador a pioneer in the cryptocurrency world. This strategy continues to set a global example of how BTC can be used on a national scale.
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