El Salvador added 5 more Bitcoins to its holdings on Sunday, in addition to its routine daily purchase of 1 BTC. This recent accumulation comes just days after the Central American country bought another 5 BTC during a market dip.
According to the country's Bitcoin Office, the new purchases bring El Salvador’s total Bitcoin holdings to 6,111.18 BTC—valued at approximately $504 million at the current market rate.
On February 17, the International Monetary Fund (IMF) approved a $1.4 billion loan for El Salvador, with a condition to scale back its Bitcoin acquisitions. The IMF expressed concerns about market volatility, fiscal risk, and financial stability in its ongoing talks with the country.
Following the loan approval, El Salvador’s Legislative Assembly passed a bill to revise its Bitcoin adoption strategy, aligning with the IMF’s requirements. Reuters reported that the bill passed with 55 votes in favor and just two against.
Despite international pressure, El Salvador continues to pursue its Bitcoin strategy, asserting that its dollar-based economy remains stable alongside its Bitcoin investments.
