El Salvador has recently purchased two additional Bitcoin (BTC) on February 1st. Normally, the country acquires one Bitcoin per day as part of its Bitcoin strategic reserve initiative, but it has been buying BTC at a faster pace.
According to the government’s Bitcoin tracker, El Salvador currently holds a total of 6,055 BTC, valued at over $612 million, and has purchased over 50 BTC in the last 30 days alone.
The country recently reversed its law making BTC a legal tender for businesses to accept in order to secure a loan from the International Monetary Fund (IMF).
The news of this purchase has received mixed reactions from the crypto community. However, despite the recent IMF deal, El Salvador continues to accumulate Bitcoin for its national reserve.
As part of the $1.4 billion IMF deal, El Salvador had to make BTC payments voluntary, limit public sector involvement in the Bitcoin industry, and privatize the Chivo wallet.
One day after signing the deal with the IMF, the country acquired 11 BTC, valued at over $1 million.
In a post on December 19th, the director of El Salvador’s National Bitcoin Office, Stacy Herbert, mentioned that the country may start accumulating BTC at a faster pace.
The National Bitcoin Office purchased an additional 12 BTC on January 19th. Government officials informed Cointelegraph that the Office intends to increase its purchases in 2025.
“We have not only achieved the most successful rebrand in history, but we are now an actual case study for a successful national strategy,” a spokesperson said.
El Salvador’s Bitcoin treasury strategy has received praise from Bitcoin enthusiasts and has caught the attention of crypto companies, including Fidelity Digital Assets.
In their January 2025 report, Fidelity Digital Assets specifically highlighted El Salvador’s Bitcoin treasury strategy as a potential catalyst for wider adoption by nation-states.
Analysts from Fidelity Digital Assets argued that larger countries would adopt Bitcoin as the risk of not owning any Bitcoin becomes more apparent and the fear of missing out grows.