El Salvador Keeps Buying BTC

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El Salvador continues to purchase Bitcoin despite an agreement with the International Monetary Fund (IMF) to limit its Bitcoin acquisitions.

Recently, the Central American country acquired an additional 6 BTC, increasing its total holdings to 6,111.18 BTC, approximately valued at $504 million at current market prices. This marks an increase from 6,072 BTC on February 9, according to the national Bitcoin Office.

In December, El Salvador secured a deal with the IMF for a $1.4 billion loan, with the overall package anticipated to exceed $3.5 billion.

In exchange, the nation agreed to reduce its Bitcoin-related activities. Following this agreement, the Legislative Assembly approved a bill in January to align with the IMF’s requirements, as reported by Reuters.

On March 3, the IMF published a new document outlining conditions for its extended financial arrangement with El Salvador.