Nikolas Sargeant
El Salvador’s Bitcoin reserve continues to grow as the country purchased 12 Bitcoin in a single day, bringing its total holdings to 6,068 BTC, valued at over $554 million. The government made the purchases on February 4, acquiring 11 Bitcoin for just over $1.1 million at an average price of $101,816 per Bitcoin. An additional 1 BTC was bought for $99,114. This marks the latest increase in the country’s growing Bitcoin stockpile, with El Salvador having added 21 BTC in just the past week and 60 BTC over the last 30 days.
El Salvador has stacked 21 BTC this week!
— The Bitcoin Office (@bitcoinofficesv) February 4, 2025
Total SBR Holdings: 6,068.18 BTC
Total Added Today: +1 BTC
Total Added Past 7 Days: +21 BTC
Total Added Past 30 Days: +60 BTC
The first Strategic Bitcoin Reserve in the world keeps growing and so El… pic.twitter.com/iz2x9CGbuu
Push continues in face of IMF agreements
The latest purchase comes despite recent developments surrounding the country’s relationship with the International Monetary Fund (IMF). In January, President Nayib Bukele reached a $1.4 billion financing deal with the IMF, which saw the country agree to scale back some of its Bitcoin-related initiatives. These adjustments included making Bitcoin adoption voluntary for the private sector and scaling back the government's involvement with the Chivo crypto wallet. Nevertheless, El Salvador's government has continued its Bitcoin purchases, even after the IMF agreement, with the country buying $1 million worth of Bitcoin just the day after the deal was signed.
Bitcoin’s recent price dip, which saw the cryptocurrency fall to a 24-hour low of around $96,000 before rebounding to approximately $98,000, has not deterred El Salvador’s buying strategy. The Bitcoin Office celebrated the new acquisition, emphasizing that El Salvador’s “Strategic Bitcoin Reserve” is continuing to grow. The country’s commitment to accumulating Bitcoin remains firm, with plans to intensify its buying efforts in 2025, according to government officials.
Despite the global debate over Bitcoin’s role in El Salvador’s economy and the IMF deal's adjustments, the country’s Bitcoin strategy remains unchanged. El Salvador continues to position itself as a leader in cryptocurrency adoption, with its growing reserve a testament to its long-term commitment to the digital asset, even amid the volatile crypto market.
