El Salvador significantly increased its Bitcoin 
$98,492 purchases last week. The government acquired a total of 22 BTC over two separate days, raising its Bitcoin reserves to over $574 million. These purchases demonstrate the country’s commitment to its cryptocurrency strategy and its approach to managing international financial relations.
Striking Increase in Bitcoin Acquisitions
On Friday and Sunday, El Salvador bought a total of 22 BTC worth $2.14 million. President Nayib Bukele’s continued “one BTC per day” strategy since November 2022 is noteworthy. This new purchasing activity appears to accelerate El Salvador’s goal of increasing its reserves.
Max Keiser, an advisor on Bitcoin to President Bukele, announced that the country plans to acquire an additional 20,000 BTC. This target seems likely to strengthen El Salvador’s presence in the cryptocurrency market. The government maintains its strategy focused on long-term financial growth.
New Financial Era with the IMF
The International Monetary Fund (IMF) secured a $1.4 billion loan agreement with El Salvador. The IMF expects this fund to trigger an additional $3.5 billion in international financing. However, according to the IMF’s statement, the Salvadoran government agreed to reform its cryptocurrency policies in exchange for this funding.
The statement indicated, “Activities related to Bitcoin in the public sector will be restricted, and government involvement in the Chivo Bitcoin wallet will be terminated.” Furthermore, there will be a focus on enhancing the regulation and transparency of cryptocurrencies to increase financial stability.
El Salvador’s Bitcoin purchases and collaboration with the IMF are being closely monitored in the financial world. The country’s strategies continue to be evaluated in light of international relations and economic indicators.
