In a dramatic gesture that reinforces its stance on Bitcoin, El Salvador purchased 11 BTC for its national reserves, which now amount to 6,044 units.
The move follows an agreement with the International Monetary Fund (IMF) for $1.4 billion, the conditions of which include a reduction in some of the policies related to Bitcoin. Still, the Central American country has not given up on the cryptocurrency.
The agreement with the IMF poses new challenges
The IMF loan agreement comes with some conditions. El Salvador agreed to make acceptance of Bitcoin voluntary by the private sector, a step back from a previous directive that forced companies to accept the cryptocurrency.
The state also intends to reduce its presence in the Chivo wallet, a government-owned wallet designed for Bitcoin use. These concessions appear to satisfy the concerns expressed by the IMF, but have not deterred the country from purchasing more Bitcoin.
 Source: El Salvador National Bitcoin Office
This delicate balance between meeting IMF requirements and following a Bitcoin-powered financial plan indicates how serious the government is when it comes to being unique in global cryptocurrency adoption. It’s a balancing act El Salvador seems poised to triumph.
A dedicated vision for Bitcoin
However, given these warnings, the National Bitcoin Office of El Salvador reaffirmed its interest in Bitcoin. He even mentioned the possibility of acquiring more, which would be faster than before. The unwavering vision reveals that the government believes Bitcoin has a future. It is something that is an integral part of your financial vision.
BTCUSD trading at $104,319 on the 24-hour chart: TradingView.com
El Salvador’s assets total 6,044 BTC, or about $610 million, according to the National Bitcoin Office’s portfolio tracker. CoinGecko reports that the cryptocurrency is currently trading at around $101,350.
The nation’s National Bitcoin Office said in a Jan. 19 X post that it acquired 11 additional Bitcoins for its strategic bitcoin hoard valued at more than $1 million. On January 20, he also bought a Bitcoin for $106,000.
El Salvador adds another 11 BTC to our Strategic Bitcoin Reserve!
🇸🇻🚀
— The Bitcoin Office (@bitcoinofficesv) January 20, 2025
President Nayib Bukele’s administration has clearly expressed its ambitions regarding the integration of Bitcoin into everyday financial activities. Critics argue that it is not sustainable in the long term, while supporters believe it is a revolutionary step towards economic innovation.
Image: La Prensa Gráfica
Bitcoin in the financial identity of El Salvador
Bitcoin is becoming more than just a basic investment for El Salvador; It represents financial autonomy. This country’s latest acquisition puts the nation in a unique position on the international stage and demonstrates that traditional banking systems and digital assets can coexist.
Breaking its previous all-time high of $108,000, which it reached on December 17, Bitcoin momentarily surpassed $109,000 on January 20.
The new high for Bitcoin came just before Donald Trump was sworn in as the 47th president of the United States on Monday.
Featured image of DALL-E, TradingView chart
