Basri Caneri The Central American country of El Salvador continues to grow its Bitcoin reserve. On February 4, the country purchased 12 more Bitcoins, bringing its total BTC holdings to 6,068 BTC. As of now, the value of the reserves has exceeded $554 million.
According to the government’s Bitcoin Office, a total of 60 BTC have been purchased in the last 30 days. On February 4, 11 BTC were purchased at an average price of $101,816, while a few hours later, another 1 BTC was purchased for $99,114. Adding a total of 21 BTC this week, El Salvador continues to increase its BTC reserve.
Bitcoin Buying Continues Despite $1.4 Billion Deal with IMF
Last month, El Salvador signed a $1.4 billion financing agreement with the IMF. Under this agreement, the government agreed to withdraw from some Bitcoin projects. It made it optional for the private sector to accept BTC and reduced the government’s control over the Chivo wallet.
However, the day after the IMF deal, the government purchased $1 million worth of BTC. Stacy Herbert, Director of El Salvador’s Bitcoin Office, emphasized that there is no change in the country’s Bitcoin strategy, while Bitcoin purchases will accelerate further in 2025.
Bitcoin Reserve Policy Continues
El Salvador is the first country in the world to create a strategic Bitcoin reserve. Under the leadership of President Nayib Bukele, the country continues to accumulate BTC as an official reserve asset.
Although the Bitcoin price has fallen as low as $96,000, it has climbed back above $98,000. El Salvador’s continued purchases, taking these declines as an opportunity, shows that the government is continuing its long-term Bitcoin strategy.
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