El Salvador now holds 6,068 Bitcoin worth more than $554 million. The country’s total Bitcoin holdings have increased once more.
Amidst a decline in the cryptocurrency markets, El Salvador has once again increased its growing Bitcoin stockpile by purchasing 12 Bitcoin in the past day.
The nation purchased eleven Bitcoins on February 4; Bitcoin was worth BTC$97,943 for slightly more than $1.1 million, or $101,816 on average. Afterward, it paid $99,114 for one extra Bitcoin, according to the government’s Bitcoin Office tracker.
It increases the Central American nation’s total holdings to 6,068 Bitcoin worth more than $554 million.
In a February 4 X post, the Bitcoin Office stated, “El Salvador has stacked 21 BTC this week!” and revealed that the nation had acquired 60 BTC in the previous 30 days.
“El Salvador continues to win because the world’s first Strategic Bitcoin Reserve continues to grow,” it continued.
After hitting a 24-hour low of about $96,000, Bitcoin has risen to about $98,000. According to CoinGecko data, it is still below its intraday peak of more than $100,700.
The further Bitcoin purchases follow El Salvador’s President Nayib Bukele’s agreement last month to withdraw his government’s involvement in some Bitcoin-related activities in exchange for a $1.4 billion financing deal with the International Monetary Fund.
Among the reforms implemented by the nation were the voluntary adoption of Bitcoin by the private sector and the termination of official support for the Chivo cryptocurrency wallet.
El Salvador’s Congress promptly adopted legislation to change its Bitcoin laws to conform with the IMF arrangement, which Bukele had received minutes before, according to a Reuters report on January 29.
Despite the agreement, El Salvador’s government has kept purchasing Bitcoin. The nation purchased $1 million worth of Bitcoin following its deal with the IMF.
In late December, Stacy Herbert, the director of the National Bitcoin Office, told X that the nation’s plans for Bitcoin remained unchanged.
Additionally, a representative for the Bitcoin Office recently said that the nation expects to “intensify in 2025” its Bitcoin purchases.
