El Salvador has added 11 Bitcoin (BTC) to its Strategic Bitcoin Reserve, worth over $1 million, just one day after finalizing a $1.4 billion deal with the International Monetary Fund (IMF).
This addition breaks the country’s routine of acquiring “one Bitcoin per day,” a strategy announced by President Nayib Bukele in 2022. The latest purchase brings El Salvador’s total Bitcoin holdings to 5,980.77 BTC, valued at approximately $580 million at the current price of $97,000 per BTC.
In a post on Dec. 19, the National Bitcoin Office confirmed the purchase, with director Stacy Herbert stating that the country plans to continue buying Bitcoin, possibly at an accelerated rate.
This move comes despite the IMF’s agreement, which urges El Salvador to limit government involvement in Bitcoin transactions as part of securing the loan.
As part of the deal, El Salvador has agreed to restrict its Bitcoin purchases, allow private sector adoption to remain voluntary, and make US dollars the only official tax payment method.
The country will also phase out its state-run Chivo wallet. However, the government’s commitment to Bitcoin remains strong, with officials affirming that the cryptocurrency will continue to play a central role in El Salvador’s economic strategy.
The IMF still needs to approve the deal, which marks the end of a tense four-year negotiation over El Salvador’s Bitcoin policies. Despite the conditions, the country remains committed to Bitcoin as a long-term financial strategy.
Also Read: El Salvador Accepts Voluntary Bitcoin Use in $1.4B IMF Deal
