While celebrating Christmas, El Salvador keeps increasing its Bitcoin reserves despite the IMF agreement.
1 BTC Per Day for El Salvador
The Central American country continues to purchase Bitcoin, adding 1 BTC to its reserves. The coin is currently valued at $95,358.04 after a 3.08% dip. El Salvador's reserves now stand at 5,997.77 BTC, equivalent to $595 million.
El Salvador Goes Against IMF on Crypto
Recently, Stacy Herbert, director of El Salvador's Bitcoin Office, stated that BTC purchases would proceed at an accelerated pace. Despite signing a strategic agreement with the IMF, El Salvador continues to buy the cryptocurrency, resisting pressure to reduce crypto holdings. Just a day after the agreement, the country purchased Bitcoin worth $1 million.
Bitcoin Reserves in US and UK
Besides El Salvador, Bhutan also holds strategic Bitcoin reserves, mining since 2019. However, the US and UK obtained their reserves of 198,109 BTC and 61,245 BTC mainly through seizures and forfeitures in criminal cases.
El Salvador continues its Bitcoin purchasing strategy amid international pressure, possibly marking the beginning of a long-term strategy for 2025.
