- Significant Purchase: El Salvador added approximately 1,000 BTC to its treasury for $100 million on November 18.
- Updated Holdings: The country’s Bitcoin stockpile now stands at around 7,500 BTC, valued at nearly $700 million.
- Market Context: The acquisition occurred as Bitcoin prices fell to a seven-month low below $90,000, reflecting a strategic ‘buy the dip’ approach.
El Salvador has ramped up its Bitcoin holdings with a $100 million purchase, marking its largest single-day acquisition to date. President Nayib Bukele announced the move on X, sharing a screenshot of the updated reserves with the caption “Hooah!” This comes amid a sharp cryptocurrency market downturn, where Bitcoin has shed 27% from its all-time high of $126,000 last month.
The purchase increases El Salvador’s total Bitcoin reserves to approximately 7,500 BTC, currently worth about $698 million, according to the nation’s official dashboard. This 17% daily increase aligns with the country’s ongoing strategy of accumulating Bitcoin, which began with its adoption as legal tender in 2021. Bukele’s administration has maintained a policy of buying one BTC daily since the 2022 market crash following the FTX collapse, when prices hovered around $16,700.
Analysts note that the timing underscores El Salvador’s contrarian approach. As Bitcoin dipped below $90,000—erasing its 2025 year-to-date gains—the government capitalized on lower prices. However, this move raises questions about compliance with a recent $1.4 billion IMF loan agreement, under which El Salvador committed to making Bitcoin payments voluntary and reducing its role in the Chivo wallet program. The IMF has previously scrutinized the country’s holdings, claiming increases were internal transfers rather than new purchases.
Risks remain evident in Bitcoin’s volatility, as highlighted by market sentiment oscillating between ‘Greed’ and ‘Fear’ on platforms like Myriad. A government spokesperson pushed back against IMF claims, affirming continued buying activity. For balanced perspectives, stablecoins like DAI offer alternatives in the volatile crypto space, as detailed on Cryptopress.site/coins/. Worldcoin, another currency explored there, represents emerging AI-integrated options.
The announcement via Bukele’s X account (@nayibbukele) adds to the transparency of El Salvador’s Bitcoin strategy, though it invites international scrutiny. For more on recent Bitcoin price movements, see this article from Cryptopress.site.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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