{"id":11325,"date":"2025-02-04T17:31:46","date_gmt":"2025-02-04T17:31:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=11325"},"modified":"2025-02-04T17:31:46","modified_gmt":"2025-02-04T17:31:46","slug":"el-salvador-buys-the-dip-adds-11-btc-to-its-holdings","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=11325","title":{"rendered":"El Salvador Buys the Dip, Adds 11 BTC to Its Holdings"},"content":{"rendered":"
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El Salvador has expanded its Bitcoin reserves by purchasing an additional 11 BTC on February 4.<\/p>\n

The move is part of President Nayib Bukele\u2019s ongoing strategy to accumulate the cryptocurrency, particularly during market downturns.<\/p>\n

Bitcoin Purchases<\/h2>\n

According to the Nayib Bukele Portfolio Tracker, the latest acquisition brings El Salvador\u2019s total holdings<\/a> to 6,067.18 BTC, valued at approximately $613.7 million.<\/p>\n

The country initially implemented<\/a> a strategy of purchasing one Bitcoin per day but has recently accelerated its accumulation pace. Its National Bitcoin Office revealed via a February 4 post<\/a> on X that in the past week alone, it has added over 20 BTC to its reserves.<\/p>\n

President Bukele has made it clear that El Salvador\u2019s goal is to continue acquiring more Bitcoin. He previously teased<\/a> about getting the chance to \u201cbuy Bitcoin at a discount\u201d after the U.S. government announced a $6.7 billion sale, an event typically associated with price volatility.<\/p>\n

In September 2021, El Salvador became the first country to officially adopt BTC as a legal tender with the enactment of the Bitcoin Law. Since then, the government has introduced several initiatives connected to the cryptocurrency, including bonds, volcano-powered BTC mining, and a citizenship program linked to investments, while continuing to expand and maintain its holdings.<\/p>\n

Last month, Bukele\u2019s administration secured <\/a>a $1.4 billion financing agreement with the International Monetary Fund (IMF), which included commitments to scale back certain Bitcoin initiatives.<\/p>\n

Under the agreement, businesses are no longer required to accept cryptocurrency as payment, tax settlements in BTC have also been discontinued, and the government\u2019s role in the state-backed Chivo wallet has been reduced.<\/p>\n

El Salvador Remains Committed to Bitcoin Strategy<\/h2>\n

The IMF has repeatedly expressed concerns over El Salvador\u2019s Bitcoin adoption, warning of potential financial stability risks. However, despite the recent policy adjustments, the government remains committed to its broader strategy.<\/p>\n

In December 2024, Stacy Herbert, director of the National Bitcoin Office, hinted<\/a> that El Salvador would accelerate its Bitcoin acquisitions. She recently reaffirmed this position, stating:<\/p>\n

\n

\u201cEl Salvador will continue buying Bitcoin (at possibly an accelerated pace AND at a discounted price) for its Strategic Bitcoin Reserve.\u201d<\/p>\n<\/blockquote>\n

The Central American nation\u2019s crypto policies have also attracted interest from major industry players. Tether, the issuer of the world\u2019s largest stablecoin, recently relocated <\/a>its headquarters to the country. The firm cited its supportive regulatory environment and long-term economic vision for the move.<\/p>\n

Additionally, President Bukele has personally invited<\/a> Rumble CEO Chris Pavlovski to consider moving his company\u2019s operations to El Salvador, further showing the country\u2019s commitment to its Bitcoin-centred approach.<\/p>\n

The post El Salvador Buys the Dip, Adds 11 BTC to Its Holdings<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

El Salvador has expanded its Bitcoin reserves by purchasing an additional 11 BTC on February 4. The move is part of President Nayib Bukele\u2019s ongoing strategy to accumulate the cryptocurrency, particularly during market downturns. Bitcoin Purchases According to the Nayib Bukele Portfolio Tracker, the latest acquisition brings El Salvador\u2019s total holdings to 6,067.18 BTC, valued […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-11325","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11325"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11325\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}