El Salvador, one of the most supportive countries in the world, added 5 BTC to the Bitcoin Reserve on Saturday. The country bought more than $ 5 million from BTC last month.
The move comes at a time when El Salvador adjusts its Bitcoin policies to match the conditions set by the International Monetary Fund (IMF).
Bitcoin’s accumulation in El Salvador continues amid the policy modifications fueled by the International Monetary Fund
On February 1, Bitcoin office in El Salvador confirmed the purchase, which prompted the country’s total reserves to about 6,055 BTC, with a value of more than $ 606 million.
Over the past month alone, the government acquired about 50.42 BTC, while maintaining its fixed accumulation since Bitcoin adopted as a legal tendency in 2021.
However, the country recently made adjustments to the Bitcoin framework. In December 2024, the government reached an agreement with the International Monetary Fund to obtain a loan of $ 1.4 billion under the extended fund facility (EFF).
To meet the conditions of this deal, the government has amended the main Bitcoin policies. This includes making bitcoin optional for companies, eliminating tax payments in BTC, and gradual disposal of the state -backed Chivo portfolio.
This step was not surprising, given that the International Monetary Fund had expressed its concerns about the adoption of Bitcoin Salvador, noting the risks of financial stability. While these organizational updates indicate some concessions, the broader Bitcoin strategy in the government is still sound.
Last December, Stacy Herbert, Director of the National Bureau of Bitcoin, alluded to the accelerating bitcoin accumulation plan. It also highlighted initiatives to enhance bitcoin education and training on the public sector.
The government official reiterated its position earlier this year, Saying:
“El Salvador will continue to buy bitcoin (probably an accelerated pace and low prices) for the strategic bitcoin reserve.”
It is not surprising, that the supportive position of albtakin may attract the main encryption companies to their beaches. Tether Stablecoin recently moved its headquarters to the country, thanks to its favorable organizational climate during the era of President Nayb Bokil.
Shortly after, Bukele, CEO of Rumble Pavlovsky, encouraged to think about transferring his company to El Salvador as well.
Disintegration
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