Key takeout
- El Salvador resumed its Bitcoin buying strategy, adding 7 BTC worth $661,000.
- The purchase matches the IMF agreement and changes the Bitcoin policy in El Salvador.
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El Salvador today bought $661,000 worth of 7 Bitcoin worth $661,000 for $661,000 and resumed its acquisition after pausing its daily purchasing strategy on February 18th.
The Central American country currently holds 6,088 Bitcoin, worth around $558 million at its current price. The country previously implemented a strategy to purchase one Bitcoin every day, which began in November 2022.
The suspension occurred amid a recent agreement by El Salvador with the International Monetary Fund (IMF). This is a 40-month extended fund facility agreement that is expected to attract more than $3.5 billion in additional financial support throughout the programme.
As part of the IMF agreement, El Salvador has agreed to change its Bitcoin policy. The country's parliament approved amendments to the Bitcoin Act in late January 2025, and approved them according to these requirements.
El Salvador bought some Bitcoin outside its daily acquisition strategy. In December, following the IMF funding agreement, the country added $1 million worth of Bitcoin to its strategic reserves in one purchase. On February 4th, it acquired over $1 million in 11 Bitcoin.
Despite previous speculation that IMF trading will cut its Bitcoin strategy, El Salvador's latest purchases show an ongoing commitment.
The acquisition comes when Bitcoin prices fell below $95,000, following President Trump's new tariff statement. Flashdrop triggered leveraged liquidation of over $950 million across crypto platforms.
At press time, BTC dropped 4% over the last 24 hours per Coingecko, changing hands at around $92,000.
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