El Salvador continues to expand its Bitcoin reserves despite the International Monetary Fund's agreement to limit cryptocurrency transactions.
El Salvador's Latest Bitcoin Acquisitions
In the last 24 hours, El Salvador purchased an additional 5 Bitcoins, bringing its total holdings to approximately 6055 BTC. This move comes despite an existing agreement with the International Monetary Fund to limit activity in the cryptocurrency space.
Nayib Bukele's Support for Bitcoin
Since adopting Bitcoin as legal tender on September 7, 2021, El Salvador's President Nayib Bukele has been an active proponent of investments in the cryptocurrency. Bukele is pushing for a policy of daily Bitcoin purchases in 2024, encouraging citizens to invest in digital assets.
El Salvador Loses Leadership in Crypto ATM Network
Amid the expansion of the cryptocurrency ATM network, El Salvador has slipped to sixth place globally, overtaken by Poland, which now has 219 active machines. Since October 2024, Poland has installed 24 new ATMs, surpassing El Salvador as a leader in the global ranking.
Despite IMF restrictions and growing competition from other countries in developing cryptocurrency infrastructure, El Salvador continues its Bitcoin purchases.
