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Cryptocurrency News Articles

El Salvador Purchased Two Additional Bitcoin

Feb 02, 2025 at 05:48 am

According to the government's Bitcoin tracker, El Salvador currently has a total of 6,055 BTC, valued at over $612 million, and purchased over 50 BTC in the last 30 days alone.

El Salvador Purchased Two Additional Bitcoin

El Salvador has purchased an additional two Bitcoin, bringing its total holdings to 6,055 BTC, according to the government's Bitcoin tracker.

The country purchased over 50 BTC in the last 30 days alone. El Salvador recently made BTC payments voluntary and agreed to limit government involvement in the crypto industry as part of a $1.4 billion IMF deal.

Despite the agreement, El Salvador has continued accumulating Bitcoin for its national reserve.

El Salvador purchased two additional Bitcoin on Wednesday, according to the government's official Bitcoin tracker. The country now holds a total of 6,055 BTC, valued at over $612 million at the time of writing.

The recent purchase comes as El Salvador continues to accumulate Bitcoin for its national reserve despite agreeing to limit government involvement in the crypto industry as part of a $1.4 billion loan agreement with the International Monetary Fund (IMF).

The country made BTC payments voluntary and agreed to sell بخشی از Chivo wallet to a third party and to stop using state funds for cryptocurrency projects, according to the IMF.

News of the El Salvador government's latest Bitcoin purchase received mixed reactions from the crypto community. Some users celebrated the move, while others expressed skepticism.

However, despite the recent IMF deal, El Salvador has continued accumulating Bitcoin for its national reserve. In December, the country purchased 11 BTC one day after signing the deal with the IMF.

As part of the agreement, El Salvador had to "confine" public sector involvement in the Bitcoin industry and had to make BTC payments voluntary, according to the IMF.

Following the purchase, spokespeople from the government agency told Cointelegraph that the National Bitcoin Office intends to ramp up purchases in 2025.

“We have achieved not only the greatest rebrand in history, but we are now an actual case study for a winning country strategy,” the spokesperson said.

El Salvador's Bitcoin treasury strategy has drawn praise from Bitcoin maximalists and attention from crypto firms — including Fidelity Digital Assets.

The digital asset firm's January 2025 report titled 2025 Look Ahead specifically noted El Salvador's Bitcoin treasury strategy as a potential catalyst to broaden nation-state adoption.

Analysts from Fidelity Digital Assets argued that larger nations would adopt Bitcoin as the risk of not owning any Bitcoin grows more apparent and the fear of missing out sets in.

Magazine: El Salvador’s national Bitcoin chief has been orange-pilling Argentina

Original source:cointelegraph

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