Key Points
- El Salvador continues its Bitcoin strategy by purchasing an additional 12 Bitcoin.
- Despite an agreement with the IMF, El Salvador maintains its Bitcoin holdings, which are now worth over half a billion dollars.
El Salvador continues its commitment to Bitcoin, taking advantage of a dip in the crypto market to purchase an additional 12 Bitcoin. This purchase was made in two separate transactions.
Additional Bitcoin Purchases Despite IMF Agreement
According to the government’s Bitcoin Office tracker, El Salvador initially paid just over $1.1 million for 11 Bitcoin, indicating an average purchase price of $101,816 per coin. The country later added an extra Bitcoin, bought at the price of $99,114.
With these new acquisitions, El Salvador’s Bitcoin holdings now stand at 6,068 BTC, worth more than half a billion dollars at current prices.
This recent purchase comes despite an agreement with the International Monetary Fund (IMF) in January. The $1.4 billion financing deal required the government to reduce some of its Bitcoin-related activities. However, this has not deterred El Salvador from continuing its Bitcoin acquisitions.
Commitment to Bitcoin Strategy
The country has been clear about its Bitcoin plans, with the National Bitcoin Office Director reaffirming their commitment to the Bitcoin strategy. A spokesperson from the office also revealed plans to continue investing in Bitcoin, potentially increasing investments in 2025.
El Salvador’s recent transactions reinforce its dedication to this Bitcoin strategy. According to a post by the Bitcoin Office, the country had acquired 21 BTC in the past week and 60 BTC over the last month.
In the early hours of today, Bitcoin fell to a 24-hour low of around $96,000 but has since rebounded to around $97,878, still down from its intraday high of over $100,500.
