4 hours ago
1
El Salvador bought 21 BTC last week despite new IMF deal Oluwapelumi Adejumo · 13 seconds ago
El Salvador has ramped up its Bitcoin acquisitions, adding more than 20 BTC in the past week.
According to the country’s Bitcoin Office data, the government made over 50% of the acquisition in one day on Feb. 3 when it acquired 11 BTC for $1.1 million. On the other days of the week, the Central American country continued with its daily 1 BTC purchase.
El Salvador’s Bitcoin Purchases (Source: Bitcoin Office)These latest purchases have increased the Central American country’s Bitcoin reserves by 60 BTC (equivalent to $5.9 million) in the past month.
El Salvador holds 6,068 BTC, valued at over $592 million. The country is sitting on an unrealized profit of more than $168 million, according to Nayibtracker data.
This purchase comes shortly after lawmakers adjusted the nation’s Bitcoin regulations to align with the conditions of a $1.4 billion loan from the International Monetary Fund (IMF).
Despite these regulatory shifts, National Bitcoin Office director Stacy Herbert emphasized that the country remains committed to growing its Bitcoin reserves.
She said:
“El Salvador is Bitcoin Country.”
