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El Salvador buys 2 BTC to reach 6,055 total holdings

El Salvador buys 2 BTC to reach 6,055 total holdings

GrafaGrafa2025/02/03 05:40
By:Mahathir Bayena

El Salvador has acquired two additional Bitcoin (CRYPTO:BTC) on February 1, 2025, as part of its ongoing strategy to build a national Bitcoin reserve.

Typically, the country purchases one Bitcoin daily, but recent activity indicates an accelerated accumulation of the cryptocurrency.

With this latest purchase, El Salvador's total Bitcoin holdings have reached approximately 6,055 BTC, valued at over $612 million.

In the past month alone, the government has purchased more than 50 BTC, reflecting its commitment to maintaining and expanding its Bitcoin reserves.

This acquisition comes shortly after El Salvador reached a $1.4 billion agreement with the International Monetary Fund (IMF), which required the country to make Bitcoin payments voluntary and limit public sector involvement in the cryptocurrency industry.

Despite these regulatory adjustments, El Salvador has continued to buy Bitcoin aggressively.

The day after finalising the IMF agreement, the government acquired 11 BTC valued at over $1 million.

Stacy Herbert, director of the National Bitcoin Office, indicated that the country might further increase its Bitcoin purchases in 2025.

She stated that El Salvador is committed to "buying Bitcoin at possibly an accelerated pace AND at a discounted price" for its strategic reserve.

El Salvador's approach has garnered attention from major financial players, including Fidelity Digital Assets.

A report from Fidelity highlighted the country's Bitcoin strategy as a potential catalyst for broader adoption among nation-states.

Analysts suggest that larger countries may feel pressure to follow El Salvador's lead as the global importance of Bitcoin becomes increasingly apparent.

At the time of reporting, the Bitcoin (BTC) price was $93,741.77.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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