El Salvador is adding more bitcoins to its reserve, with the total number reaching 6,044 coins
El Salvador has once again added to its Bitcoin reserves, purchasing 12 coins in two separate transactions this week.
According to the country’s National Bitcoin Office (ONBTC), purchases included 11 BTC on January 19 and an additional 1 BTC on January 20.
El Salvador boosts Bitcoin holdings amid new all-time high for BTC
ONBTC highlighted the purchase in A mail on X (formerly Twitter), where she shares her strategy for consistent accumulation.
“This is how we will continue to win: slow and steady DCA and then catch the diamond hands,” the post read.
The latest transactions bring El Salvador’s total Bitcoin holdings to 6,044.18 BTC, worth over $617 million at press time.
The latest purchase confirms the country’s commitment to the 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 Bitcoin as a legal tender.
However, the purchase follows its previous $1.4 billion agreement with the International Monetary Fund.
Under the terms of the deal, the country agreed to mitigate risks related to Bitcoin. This included voluntary acceptance of Bitcoin in the private sector and limiting public sector involvement.
“For the public sector, participation in economic activities and transactions related to Bitcoin and its purchases will be restricted.” deal male.
Despite four years of negotiations in which Bitcoin (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 one day after the agreement, Stacy Herbert, director of the National Bitcoin Office in El Salvador, books X states that bitcoin will remain a legal tender in the Central American country and that the government will continue to add to its strategic reserves.
Meanwhile, El Salvador’s recent Bitcoin purchase coincides with another milestone for the cryptocurrency. On January 20, Bitcoin reached a new all-time high. This was driven by the optimism surrounding Donald Trump’s return to the White House.
Bitcoin was trading at $102,316 at press time, down 5.7% over the past 24 hours.
As Bitcoin gains momentum, El Salvador’s commitment to the largest cryptocurrency remains in the spotlight.
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