El Salvador bought 21 BTC last week despite new IMF deal
El Salvador bought 21 BTC last week despite new IMF deal Oluwapelumi Adejumo · 11 hours ago Insights Bitcoin The country's total Bitcoin reserve now stands at 6,068 BTC, valued at over $592 million.El Salvador has ramped up its Bitcoin acquisitions, adding more than 20 BTC in the past week.According to the country’s Bitcoin Office data, the government made over 50% of the acquisition in one day on Feb. 3 when it acquired 11 BTC for $1.1 million. On the other days of the week, the Central American country continued with its daily 1 BTC purchase.El Salvador’s Bitcoin Purchases (Source: Bitcoin Office)These latest purchases have increased the Central American country’s Bitcoin reserves by 60 BTC (equivalent to $5.9 million) in the past month.El Salvador holds 6,068 BTC, valued at over $592 million. The country is sitting on an unrealized profit of more than $168 million, according to Nayibtracker data.This purchase comes shortly after lawmakers adjusted the nation’s Bitcoin regulations to align with the conditions of a $1.4 billion loan from the International Monetary Fund (IMF).Despite these regulatory shifts, National Bitcoin Office director Stacy Herbert emphasized that the country remains committed to growing its Bitcoin reserves.She said:“El Salvador is Bitcoin Country.”Latest Insights