Al Salvador has increased its bitcoin reserves, extending the extra 1 BTC purchase and its total holdings to 6,101.18 BTC, priced at around $ 527 million.
This latest acquisition strengthens the ommitment of President Naib to strengthen the country’s bitcoin strategy. The National Bitcoin Office of Al Salvador confirmed the purchase in a post on X on 4 March.
The move aligns with Al Salvador’s “1 BTC A Day” accumulation strategy, aimed at serving as a rescue against economic diversification and traditional financial systems. The procurement also indicates the government’s continuous confidence in bitcoin (BTC), despite the recent market volatility.
“It’s not stopping,” President Baukele commented on X after the acquisition.
Al Salvador’s bitcoin strategy amidst IMF deal
This latest purchase of bitcoin comes when El Salvador adjusted its bitcoin policies with the International Monetary Fund to align with a $ 1.4 billion loan agreement. Recently, the country revised its bitcoin law, making the use of cryptocurrency voluntary rather than compulsory. Adjustment IMF was part of efforts to secure support and maintain fiscal stability in the eyes of international lenders.
Despite the policy changes, Al Salvador continues its bitcoin reserves as a major part of its long -term economic strategy. As of March 4, the country has added 46 BTCs in the last 30 days, priced at around $ 3.97 million, which is the data of the National Bitcoin Office Chart Show. This outlines the trust of Al Salvador in the capacity of bitcoin to become a store of value and a driver of economic development.
The country’s Bitcoin City Project, which won the global recognition in 2023, is aimed at creating a hub for cryptocurrency innovation and measures continue to apply to make the country favorable to bitcoin.
