Nikolas Sargeant
El Salvador has added 12 more Bitcoin to its reserve, bringing its total holdings to 6,044 BTC, valued at over $617 million. The latest purchase includes 11 BTC on January 19 for $1 million and 1 BTC on January 20 for $106,000. This comes despite a recent $1.4 billion agreement with the International Monetary Fund (IMF), where El Salvador agreed to scale back some of its Bitcoin-related policies. The country’s continued investment in Bitcoin follows its groundbreaking move in 2021 to make the cryptocurrency legal tender, though a recent survey shows that the majority of Salvadorans still do not use Bitcoin for transactions.
El Salvador's Bitcoin Reserve Continues to Grow
El Salvador's Bitcoin reserves have been a point of contention, particularly following the country’s agreement with the IMF to reduce its crypto activities. Despite this, the government's commitment to Bitcoin remains strong, with plans unaffected by the IMF deal. El Salvador's Bitcoin stockpile now has a reported profit of $179 million, reflecting the country’s unwavering belief in the long-term value of the digital asset.
