El Salvador is advancing its Bitcoin purchasing strategy, acquiring 21 BTC last week and boosting its total holdings.
Recent Bitcoin Purchases
El Salvador's National Bitcoin Office reports that the country's total Bitcoin holdings have reached 6,068 BTC, valued at approximately $592 million. On February 4, 2025, the country bought 12 BTC in two separate transactions: the first was 11 BTC at an average price of $101,816 per bitcoin, and the second was 1 BTC at $99,114.
El Salvador's Purchase Strategy
Initially, El Salvador aimed to purchase 1 bitcoin per day but has recently exceeded this target. The strategy seems to be accelerating, likely in response to U.S. government Bitcoin auctions, which often sell seized Bitcoins at below-market prices. This follows a deal with the International Monetary Fund (IMF), resulting in a $1.4 billion loan that required El Salvador to adjust some cryptocurrency policies.
International Reactions and Implications
El Salvador remains committed to augmenting its Bitcoin reserves and integrating cryptocurrency into its financial system. From January 9 to January 20, the country added another 11 BTC. Other countries are considering El Salvador's strategy, with discussions about similar measures taking place in the U.S., and interests also seen from Brazil, the Czech Republic, and Poland.
El Salvador's actions are significantly impacting the global crypto economy, drawing the attention of other nations and sparking debates about the future of financial systems.
