El Salvador's Bitcoin reserve grows to 7,762 BTC, worth approximately $598 million

Odaily News: The Salvadoran government added 1 Bitcoin to its national Bitcoin reserve this week, bringing total holdings to 7,762 BTC. At a Bitcoin price of approximately $77,000, these holdings are valued at around $598 million.

The International Monetary Fund (IMF) previously required El Salvador to halt public sector Bitcoin purchases as part of its $1.4 billion financing agreement, and to make merchant acceptance of Bitcoin voluntary. Related legal amendments revoked Bitcoin's status as legal tender but did not end the policy of accumulating reserves.

El Salvador became the first country to adopt Bitcoin as legal tender in 2021 and has continued its policy of purchasing 1 Bitcoin daily. Between January and April this year, the government added more than 1,600 Bitcoin to its reserves. (Bitcoin.com News)