El Salvador Expands Bitcoin Reserves Despite IMF Agreement

El Salvador continues to expand its Bitcoin reserve, recently adding 12 BTC worth over $1 million, despite commitments to reduce crypto activities under a deal with the International Monetary Fund (IMF).

This comes just days after agreeing to limit government involvement in Bitcoin-related projects, including adjustments to the Chivo wallet and easing mandatory Bitcoin use for businesses.

With its total holdings now at 6,044 BTC, valued at approximately $610 million, the country remains firmly invested in Bitcoin, even as its adoption among citizens remains low. A recent survey found that 92% of Salvadorans do not use the cryptocurrency for transactions, an increase from 88% last year.

El Salvador became the first nation to recognize Bitcoin as legal tender in 2021, and its leadership has maintained a bullish stance.

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National Bitcoin Office Director Stacy Herbert emphasized that recent purchases reflect the country’s commitment to its Bitcoin strategy, despite external pressures.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.