JAKARTA - El Salvador, a country known as a pioneer in the adoption of Bitcoin as the official currency, has again demonstrated its commitment to this digital asset by adding 12 Bitcoins (BTC) to its reserves within one day.
The purchase comes as the Bitcoin price approaches its record high, suggesting that the country remains optimistic even though it has just reached an agreement with the International Monetary Fund (IMF) to reduce some crypto-related policies.
On January 19, 2025, El Salvador's Bitcoin National Office announced it had purchased 11 BTC for Bitcoin Strategic Reserves, which are currently worth more than $1 million. The next day, El Salvador bought another Bitcoin for US$106,000 (Rp1.7 billion).
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With this latest addition, the country's total Bitcoin ownership has now reached 6,044 BTC, which is estimated to be worth around US$620 million (Rp10 trillion), with the current Bitcoin price above US$103,000 (Rp1.67 billion).
Although President Nayib Bukele's government has just signed a $1.4 billion finance deal with the IMF which includes reducing some Bitcoin initiatives. For example, making BTC acceptance optional for companies and reducing government involvement in the Chivo digital wallet.
Despite being pressured by the IMF, El Salvador continues its Bitcoin acquisition strategy. Bitcoin's Director of National Office, Herbert Herbert, confirmed that the country's Bitcoin strategy has not changed.
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