El Salvador has acquired an additional 12 Bitcoin in the past day, bringing its total stockpile to 6,044 Bitcoin, which is valued at over $617 million.
El Salvador has acquired 12 Bitcoin for its reserve in the past day, despite an agreement with the International Monetary Fund to reduce the country’s crypto policies.
The National Bitcoin Office of the country announced in a post on Jan. 19 that it had acquired an additional 11 Bitcoin for its Strategic Bitcoin Reserve, which is valued at over $1 million. Additionally, it acquired one Bitcoin for $106,000 on January 20.
According to CoinGecko, El Salvador’s holdings are 6,044 BTC, which is equivalent to nearly $610 million, as indicated by the Bitcoin Office’s portfolio tracker. The cryptocurrency is currently trading at approximately $101,000.
On January 20, Bitcoin momentarily surpassed its previous all-time peak of $108,000, which it had achieved on December 17.
Bitcoin reached a new record high just hours prior to Trump’s inauguration as the 47th president of the United States at 4:00 pm UTC.
Last month, President Nayib Bukele’s government reached a $1.4 billion financing agreement with the IMF. As part of the agreement, the government agreed to discontinue certain Bitcoin-related activities.
In addition to unwinding government involvement in the Chivo crypto wallet, the country implemented voluntary private sector acceptance of Bitcoin.
Nevertheless, the day following the conclusion of that agreement, El Salvador acquired Bitcoin valued at $1 million. In an X post, Stacy Herbert, the Director of the National Bitcoin Office, stated that the country’s Bitcoin intentions had not changed.
El Salvador became the first country in the world to implement Bitcoin as legal tender in September 2021, following the announcement of the Bitcoin law.
As of January 20, the Nayib Bukele portfolio tracker indicated that El Salvador’s Bitcoin stockpile had generated $179 million in profit.
In October, a survey of Salvadorans revealed that 92% of them do not conduct transactions using Bitcoin, a significant increase from the 88% who did not use crypto for transactions in 2023.
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