El Salvador increases Bitcoin reserve by 12 BTC
El Salvador has expanded its Bitcoin stockpile to 6,068 BTC, valued at over $554 million, by purchasing 12 Bitcoin in one day amidst market fluctuations. On February 4, the country acquired 11 Bitcoin for around $1.1 million at an average price of $101,816, followed by an additional 1 BTC for $99,114. This week alone, the nation has acquired a total of 21 BTC, contributing to a total of 60 BTC purchased in the past month. Notably, these purchases come on the heels of an agreement with the International Monetary Fund, which required changes to its Bitcoin-related policies, making Bitcoin usage voluntary and reducing government involvement with the Chivo crypto wallet. Despite the IMF deal, El Salvador's commitment to acquiring Bitcoin remains strong, with plans to increase purchases in 2025, according to officials.
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