The El Salvador government continues with their BTC purchase program of 1 BTC per day, which has been ongoing since 2021. This week, they purchased 5 BTC ($416K) in a single day, deviating from their usual plans. The recent purchases bring their total balance to 6,103 BTC, which is worth just over $511M at today’s prices.
The purchases continue despite El Salvador’s recent deal with the International Monetary Fund (IMF), in which the IMF made a $1.4B loan to the El Salvador government, in exchange for limiting their involvement in Bitcoin-related activities. These conditions include the slowdown of their purchase program and the removal of mandatory acceptance of the asset by merchants, among other conditions.
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