Tags: El Salvador

El Salvador purchased 6 BTC in a single day, defying IMF calls to halt its Bitcoin strategy and boosting its reserves to 6,111 BTC.

Nayib Bukele refuses to halt Bitcoin investments despite IMF pressures.

The firm known as “Asia’s MicroStrategy” continues to accumulate Bitcoin despite the massive market slump. 

The latest BTC purchase brings El Salvador’s total holdings to 6,067.18 BTC, valued at $613.7M, per the Nayib Bukele Bitcoin Tracker.

El Salvador’s Bitcoin strategy remains firm as it adds 12 BTC.

Tether will move its subsidiaries to El Salvador and establish its headquarters in the country as it fosters global Bitcoin adoption and innovation in emerging markets.

The program is set to be presented to the IMF Board for approval by early February, provided the prior actions are fulfilled as agreed.

El Salvador’s bold Bitcoin strategy has yielded a 124% profit, drawing praise as the cryptocurrency surpassed $100,000.

Bitfinex aims to raise $30 million in the token’s initial subscription period and will channel the proceeds to the iShares $ Treasury Bond 0-1yr UCITS ETF.

The Salvadoran government’s BTC holdings have increased to 5,850 BTC, valued at $355.83 million, following daily purchases since March.

The officials discussed the growing use of cryptocurrencies in global economies and exchanged concepts on El Salvador’s Bitcoin adoption journey.

Adding the 474 BTC mined since 2021 to the number of bitcoins El Salvador has purchased, the country now holds 5,750 BTC.

President Nayib Bukele’s recent disclosure reveals a doubling of the country’s Bitcoin reserves, now at 5,689 BTC from 2,864 BTC.

With Bukele’s party leading the polls, the El Salvadoran President, one of Bitcoin’s most vocal proponents, could lead the Central American country for a second consecutive term.