- El Salvador added 21 BTC in the last seven days, bringing its total holdings to 6,068.18 BTC.
- Despite policy changes, El Salvador continues to accumulate Bitcoin as part of its long-term strategy.
El Salvador has increased its Bitcoin holdings again, purchasing 21 BTC in the last seven days, raising the government’s total BTC reserves to 6,068.18 BTC. The action indicates that President Nayib Bukele is following his Bitcoin plan despite pressure from international financial institutions like the International Monetary Fund (IMF).
El Salvador has stacked 21 BTC this week!
Total SBR Holdings: 6,068.18 BTC
Total Added Today: +1 BTC
Total Added Past 7 Days: +21 BTC
Total Added Past 30 Days: +60 BTCThe first Strategic Bitcoin Reserve in the world keeps growing and so El… pic.twitter.com/iz2x9CGbuu
— The Bitcoin Office (@bitcoinofficesv) February 4, 2025
El Salvador Ends Bitcoin’s Legal Tender Status
Previously, as CNF reported, El Salvador ended Bitcoin’s legal tender status. Now fully voluntary, BTC use is not required of businesses by the government as a form of payment.
The choice followed El Salvador’s quest of a $1.4 billion loan from the IMF. One of the IMF’s requirements was lessening of Bitcoin’s influence on official transactions. Stated differently, the Salvadoran government has opted for a compromise: maintaining Bitcoin as a strategic asset while lowering its formal sector presence.
Bukele Sticks to His Strategy
President Bukele keeps acquiring Bitcoin in spite of the regulatory developments. Some observers believe the government bought Bitcoin on purposeful cheap pricing in order to turn a profit over time. Bukele personally has said multiple times that Bitcoin is “digital gold” and thinks its worth will only grow going forward.
Mixed Reactions and Global Interest in Bitcoin Policy
Regarding the people of El Salvador, this measure has elicited conflicting opinions. Given that Bitcoin represents a long-term economic possibility, some applaud the government’s decision to keep investing in the cryptocurrency. On the other side, other people worry about the volatility of BTC and how it may affect national budgets.
Overseas, El Salvador’s action also keeps drawing interest. Even some of the big cryptocurrency firms now see the nation as a blockchain sector regulatory paradise. For instance, Tether, the USDT stablecoin issuer, has relocated its headquarters to El Salvador. This indicates that the nation is still the focus of attention in the crypto scene even with shifting Bitcoin usage regulations.
Even so, El Salvador is still a worldwide experiment in Bitcoin adoption. Will Bukele’s approach contain risks or will it be successful over the long run? To be seen still is that. One thing is certain, though: the nation is not prepared to give up Bitcoin, and buying of the cryptocurrency keeps on.
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