El Salvador Adds More BTC to Its Strategic Bitcoin Reserve in January
El Salvador has once again added to its Bitcoin reserves, buying 12 coins in two separate transactions this week.
According to the country’s National Bitcoin Office (ONBTC), the purchases included 11 BTC on January 19 and an additional 1 BTC on January 20.
El Salvador Boosts Bitcoin Holdings Amid BTC’s New All-Time High
The ONBTC highlighted the purchase in a post on X (formerly Twitter), sharing its strategy of consistent accumulation.
“This is how we will keep winning: slow and steady DCA and then hodl with diamond hands,” the post read.
The latest transactions bring El Salvador’s total Bitcoin holdings to 6,044.18 BTC, valued at over $617 million at press time.
El Salvador’s BTC holdings. Source: El Salvador Bitcoin Office The latest purchase emphasizes the nation’s commitment to its Bitcoin strategy, which has been a cornerstone of its economic policy. In 2021, El Salvador passed the Bitcoin Law, becoming the first country in the world to adopt BTC as legal tender.
Nonetheless, the purchase comes after its previous $1.4 billion agreement with the International Monetary Fund (IMF).
Under the terms of the deal, the country agreed to mitigate Bitcoin-related risk. This included voluntary acceptance of Bitcoin in the private sector and limiting public sector engagement.
“For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined,” the agreement stated.
Despite the four-year negotiation in which BTC was a major point of concern, the agreement appears to have done little to dampen El Salvador’s enthusiasm for Bitcoin. In fact, just a day after the agreement, Stacy Herbert, El Salvador’s National Bitcoin Office director, wrote on X that Bitcoin would remain legal tender in the Central American country and that the government would keep adding to its strategic reserves.
Meanwhile, El Salvador’s latest Bitcoin purchase coincides with another milestone for the cryptocurrency. On January 20, Bitcoin hit a new all-time high. This was driven by optimism surrounding Donald Trump’s return to the White House.
Bitcoin exchanged hands at $102,316 at press time, down 5.7% in the past 24 hours.
Bitcoin price performance. Source: BeInCrypto As Bitcoin gains momentum, El Salvador’s commitment to the largest cryptocurrency remains firmly in the spotlight.
