El Salvador, famous for making Bitcoin legal tender, has continued its Bitcoin buying strategy after buying 21 BTC over the past week.
The data of the country’s National Bitcoin Office (ONBTC) reveals that the country’s total Bitcoin holding reached 6,068 BTC, valued at approximately $592 million.
On February 4, 2025, El Salvador bought 12 BTC in two separate purchases, the first was 11 BTC bought for an average price of $101,816 per BTC, and the second was 1 BTC bought for $99,114. This latest Bitcoin purchase by El Salvador is a significant accumulation, as the country has added 60 BTC in the last month.
The country’s original target was to buy 1 bitcoin per day. However, it has recently exceeded this target, and it is buying larger amounts of Bitcoin in a shorter time.
The strategy appears to be accelerating, likely to take advantage of Bitcoin auctions held by the U.S. government, which typically sell seized Bitcoins at lower-than-market prices.
This move comes after El Salvador’s deal with the International Monetary Fund (IMF), which involved a $1.4 billion loan. As per this deal, El Salvador agreed to scale back some of its Bitcoin-related policies, like making Bitcoin acceptance optional for businesses and winding down the state-backed Chivo wallet.
El Salvador remains committed to growing its Bitcoin reserves and continues on the way of using Bitcoin in its financial system. The country added 11 BTC on January 9 as well as on January 20.
Other countries are looking at El Salvador’s Bitcoin strategy and considering building their reserves. The United States is the most notable, with countries like Brazil, the Czech Republic, and Poland also exploring the idea.
Also Read: Tether is moving its HQ to El Salvador After Securing License
