tl;dr
El Salvador has increased its Bitcoin reserves by purchasing an additional 11 BTC on February 4, bringing its total holdings to 6,067.18 BTC valued at approximately $613.7 million. President Nayib Bukele's strategy aims to accumulate cryptocurrency, especially during market downturns. Despite recent...
El Salvador has increased its Bitcoin reserves by purchasing an additional 11 BTC on February 4, bringing its total holdings to 6,067.18 BTC valued at approximately $613.7 million. President Nayib Bukele's strategy aims to accumulate cryptocurrency, especially during market downturns. Despite recent policy adjustments following a $1.4 billion financing agreement with the IMF, El Salvador remains committed to its Bitcoin strategy. Notably, the country continues to attract industry interest with Tether relocating its headquarters there, and President Bukele inviting Rumble CEO Chris Pavlovski to consider moving operations to El Salvador. According to the Nayib Bukele Portfolio Tracker, the latest acquisition brings El Salvador’s total holdings to 6,067.18 BTC, valued at approximately $613.7 million. The country initially implemented a strategy of purchasing one Bitcoin per day but has recently accelerated its accumulation pace. Its National Bitcoin Office revealed via a February 4 post that in the past week alone, it has added over 20 BTC to its reserves. President Bukele has made it clear that El Salvador’s goal is to continue acquiring more Bitcoin. In September 2021, El Salvador became the first country to officially adopt BTC as a legal tender with the enactment of the Bitcoin Law. Since then, the government has introduced several initiatives connected to the cryptocurrency, including bonds, volcano-powered BTC mining, and a citizenship program linked to investments, while continuing to expand and maintain its holdings. The IMF has expressed concerns over El Salvador’s Bitcoin adoption, warning of potential financial stability risks. However, despite the recent policy adjustments, the government remains committed to its broader strategy. In December 2024, Stacy Herbert, director of the National Bitcoin Office, hinted that El Salvador would accelerate its Bitcoin acquisitions. She recently reaffirmed this position, stating: "El Salvador will continue buying Bitcoin (at possibly an accelerated pace AND at a discounted price) for its Strategic Bitcoin Reserve." Tether, the issuer of the world’s largest stablecoin, recently relocated its headquarters to the country, citing its supportive regulatory environment and long-term economic vision for the move. Additionally, President Bukele has personally invited Rumble CEO Chris Pavlovski to consider moving his company’s operations to El Salvador, further showing the country’s commitment to its Bitcoin-centred approach. Binance offers a free $600 exclusive welcome offer for CryptoPotato readers, and Bybit extends a limited offer for CryptoPotato readers to open a $500 FREE position on any coin. Wayne Jones, a dynamic part-time trader and blockchain enthusiast, offers insights on cryptocurrencies and financial systems. He regularly shares his perspectives in articles and professional presentations. Editorials on Virtuals, Hyperliquid, Truth Terminal, real-world assets, NFTs, Trump's impact on crypto, and Sui Network are also featured, providing in-depth analyses and guides on various topics. Footer tags include Bitcoin, El Salvador, and Nayib Bukele, inviting readers to share the articles and join the community through social media channels. Additionally, readers are encouraged to become CryptoPotato VIP members to receive extended weekly market updates and coin analysis reports. The footer includes information about advertising, editorial policies, terms of service, privacy policy, and GDPR compliance. The disclaimer emphasizes that the information found on CryptoPotato represents the opinions of quoted writers, not those of CryptoPotato. Readers are advised to conduct their own research before making investment decisions. The copyright notice and options to subscribe to daily or weekly market updates complete the article summary.