El Salvador Buys 12 Bitcoins
El Salvador yesterday increased its Bitcoin reserves by 12 BTC, showing a strong interest in the leading cryptocurrency as it approaches its record-high value.
This comes as a surprise, given the recent agreement between the country and the International Monetary Fund (IMF) to scale back on its cryptocurrency policies. On January 19th, the National Bitcoin Office announced that it had purchased 11 BTC for its Strategic Bitcoin Reserve, which is now worth over $1 million.
The following day, an additional BTC was acquired for $106,000. According to the office’s portfolio tracker, El Salvador now holds a total of 6,044 BTC, valued at approximately $620 million, with Bitcoin trading at over $103,000.
Despite the financing deal with the IMF last month, which required El Salvador to make certain changes to its use of Bitcoin, such as making it optional for businesses and reducing government involvement in the Chivo wallet, the country remains committed to its Bitcoin strategy.
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