Key dealers
- El Salvador resumed his Bitcoin purchasing strategy and dedicated $ 7 BTC worth $ 661,000.
- The purchase is adapted to an IMF agreement and modifies Bitcoin policies in El Salvador.
El Salvador bought 7 Bitcoin worth $ 661,000 today and resumed acquisitions after Pause Its daily purchase strategy on February 18, according to Arkham Intelligence data.
Central American nation has now 6,088 bitcoin, valued at approximately $ 558 million at current prices. The country had previously implemented a strategy to buy a bitcoin daily, which began in November 2022.
The stop came in the middle of El Salvador’s latest agreement with the International Monetary Fund (IMF), a 40-month extended fund facility agreement that is expected to attract over $ 3.5 billion in additional financial support throughout the program period.
As part of the IMF agreement, El Salvador agreed to change her Bitcoin policy, including making Bitcoin ACCEPTANCE voluntarily for private companies. The country’s legislators approved amendments to its Bitcoin law at the end of January 2025 to adapt to these requirements.
El Salvador has made several large Bitcoin purchases outside his daily acquisition strategy. In December, following the IMF financing agreement, the country added Bitcoin of $ 1 million to its strategic reserves in a single purchase. On February 4, it acquired 11 Bitcoin valued at over $ 1 million.
Despite previous speculation that the IMF agreement would limit its Bitcoin strategy, El Salvador’s latest purchase shows continued commitment.
The acquisition occurred when Bitcoin’s price fell under $ 95,000 after President Trump’s new customs message. Lightning Fall triggered over $ 950 million in utilized liquidations over cryptop platforms.
At press time, BTC switched hands to about $ 92,000, a reduction of 4% over the past 24 hours, for coytecko.