Al Salvador has continued to compete to buy its quick bitcoin after accumulating more than 20 BTC in the last seven days.
As data From the Bitcoin office of the country, 12 BTCs were added to their stand on 4 February in two separate purchases. First, it acquired 11 BTC for $ 1.1 million at an average price of $ 101,816 per BTC and later bought 1 BTC in $ 99,114 a few hours later.
With these latest purchases, Al Salvador’s total bitcoin holdings now stand at 6,068 BTC, which is more than $ 592 million when writing. The country is constantly pile up the SATS and has added 60 BTC in the last month.
Al Salvador accumulated BTC as it was struggling to climb above $ 100,000, after market gitlers from President Trump’s recent tariff shock. According to Koingco data, Bitcoin fell at a low of $ 98,361 on 4 February.
Earlier, Al Salvador scooped 11 BTC on 9 January and repeated the move on 20 January.
Al Salvador initially started depositing BTC under its “1 Bitcoin A Day” program, which was officially recognized by President Naib Bukle in 2022 by recognizing Belveer Crypto as a legal tender.
However, it is distracted by this pattern and adopted a more aggressive accumulation strategy, scooping large part of bitcoin at a fast pace. Stacey Herbert first mentioned this new approach on 19 December, a week after the country interacting on a loan of $ 1.4 billion with the International Monetary Fund.
The deal came with situations to bring back some of its bitcoin related policies. Al Salvador has already made bitcoin acceptance alternative and has agreed to air the state -backed Chivo wallet as part of the agreement.
In other places, the other nations are taking hints from the bitcoin strategy of Al Salvador, some discovered the idea of building their own reserves. The United States is the most prominent of them, while countries such as Brazil, Czech Republic and Poland have also considered it.
