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The government of El Salvador announced that it is strengthening its Bitcoin strategy during the current price decline, adding 1,090 Bitcoin to the state coffers.
With the latest purchases, El Salvador’s total holdings reach approximately 7,500 BTC.
The purchase is a continuation of the country’s policy of buying one Bitcoin per day, defying International Monetary Fund (IMF) conditions that discourage and prohibit the public sector from increasing its holdings of the digital currency.
El Salvador has confirmed it has no intention of halting purchases.
The move coincides with Bitcoin’s price falling below $90,000 given weak risk sentiment in global markets. The latest purchases also follow close coordination with Washington on digital asset regulation, including previous meetings between President Bukele and White House advisers on cryptocurrencies.
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