El Salvador has recently acquired two additional Bitcoin (BTC) on February 1st. As part of its Bitcoin strategic reserve initiative, the country typically purchases one Bitcoin per day, but it has been buying BTC at an accelerated rate.
According to the government’s Bitcoin tracker, El Salvador currently holds a total of 6,055 BTC, worth over $612 million, and has acquired over 50 BTC in the last 30 days alone.
Notably, El Salvador recently reversed its legal tender law, which required businesses to accept BTC as payment in order to secure a loan from the International Monetary Fund (IMF).
The news of this purchase has garnered mixed reactions from the cryptocurrency community. However, despite the recent IMF deal, El Salvador continues to accumulate Bitcoin for its national reserve.
In accordance with the $1.4 billion IMF deal, El Salvador had to make BTC payments voluntary, limit the involvement of the public sector in the Bitcoin industry, and privatize the Chivo wallet.
Just one day after signing the deal with the IMF, the country acquired 11 BTC, valued at over $1 million.
In a post on December 19th, Stacy Herbert, the director of El Salvador’s National Bitcoin Office, mentioned that the country may start acquiring BTC at an accelerated pace.
On January 19th, the National Bitcoin Office acquired an additional 12 BTC. Government agency spokespeople informed Cointelegraph that the office plans to increase its purchases in 2025.
The spokesperson stated, “We have not only achieved the greatest rebrand in history, but we are now a successful case study for a nation-state strategy.”
El Salvador’s Bitcoin treasury strategy has received praise from Bitcoin maximalists and has attracted the attention of crypto firms, including Fidelity Digital Assets.
In its January 2025 report, Fidelity Digital Assets specifically highlighted El Salvador’s Bitcoin treasury strategy as a potential catalyst for increasing adoption by other nation-states.
Analysts from Fidelity Digital Assets argued that larger nations will adopt Bitcoin as the risk of not owning any Bitcoin becomes more apparent and the fear of missing out takes hold.