El Salvador buys 12 BTC this month amid bearish crypto market
2025-02-05
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El Salvador has piled up its increasing Bitcoin reserve, purchasing 12 Bitcoin this month in between the bearish crypto market. On February 4, the country purchased 11 Bitcoins for only more than $1.1 million, at an average price of $101,816 per Bitcoin. 
After that, it bought one more BTC at a price of $99,114, as per the Bitcoin Office Tracker of the government. After the purchase, the holding of the Central American country reached a total of 6,068 BTC, valued at more than $554 million. The deal with the IMF
The Bitcoin Office posted on X on February 4 and mentioned that El Salvador has piled up 21 BTC this week. It also reflected that the nation had bought 60 BTC in the last 30 days. It further went on adding that the first Strategic Bitcoin Reserve in the world keeps booming and so El Salvador keeps winning. 
That one Bitcoin purchase was followed by the hitting $1.4 billion financing agreement by the President of El Salvador, Nayib Bukele. The agreement was made with the International Monetary Fund in January 2025, where he acknowledged that his government would pull back from some of its Bitcoin activities. 
Some of the alterations made by the country consisted of creating private-sector acceptance of Bitcoin voluntarily and unrolling government involvement in the Chivo crypto wallet. No changes in the plan 
On January 29, a prominent media source, Reuters reported that El Salvador’s Congress quickly accepted legislation to revise its Bitcoin regulation to comply with the IMF deal, which Bukele had sent just minutes before. 
The government of El Salvador has carried on to purchase Bitcoin regardless of the deal. Just one day after making the deal with the IMF, the nation purchased $1 million worth of Bitcoin. Stacy Herbert, the Director at the National Bitcoin Office posted on X in late December 2024 to reveal that the plans of the country for Bitcoin had not changed. 
A spokesperson from the Bitcoin Office also told a prominent media outlet that the nation plans to keep purchasing Bitcoin, having plans to boost it in 2025. 