El Salvador Expands Bitcoin Reserve Amid IMF Policy Deal

El Salvador has added 12 Bitcoin to its national reserve, marking a bold move following a recent agreement with the International Monetary Fund (IMF) to scale back some of its cryptocurrency initiatives. According to a January 19 post by the National Bitcoin Office, the country purchased 11 Bitcoin valued at over $1 million. The next day, an additional Bitcoin worth $106,000 was acquired. El Salvador Maintaining Commitment With these acquisitions, El Salvador’s Bitcoin holdings now stand at 6,044 BTC, valued at approximately $610 million based on the cryptocurrency’s current trading price of $101,000, as reported by CoinGecko. This move comes as Bitcoin reached a new all-time high of $109,000 on January 20, surpassing its previous record set in December 2024. The timing of Bitcoin’s price surge coincided with Donald Trump’s inauguration as the 47th U.S. president, sparking speculation about the event’s influence on market sentiment. El Salvador’s continued Bitcoin purchases contrast with its recent $1.4 billion financing agreement with the IMF , which included commitments to reduce government involvement in Bitcoin-related activities. As part of the deal, the government agreed to make Bitcoin acceptance voluntary in the private sector and scale back the use of the Chivo wallet. Despite these measures, National Bitcoin Office Director Stacy Herbert affirmed the country’s unwavering commitment to its Bitcoin strategy. In a public statement, Herbert emphasized that the policy changes would not derail El Salvador’s broader goals for Bitcoin adoption. A Growing Global Trend The country’s pioneering Bitcoin law, introduced in September 2021, established Bitcoin as legal tender. While this initiative has faced domestic criticism—92% of Salvadorans reported not using Bitcoin for transactions in a recent survey—El Salvador’s holdings have yielded substantial profits, totaling $179 million as of January 20. El Salvador is not alone in its pursuit of Bitcoin as a strategic asset . Bhutan, a small Himalayan nation, has also emerged as a significant player in the crypto space. Blockchain analytics firm Arkham Intelligence recently revealed that Bhutan holds approximately $780 million in digital assets, fueled by years of Bitcoin mining. As Bitcoin continues to gain prominence on the global stage, El Salvador’s persistent accumulation highlights its commitment to integrating cryptocurrency into its economic framework, even as international scrutiny and domestic skepticism remain. The post El Salvador Expands Bitcoin Reserve Amid IMF Policy Deal appeared first on TheCoinrise.com .