El Salvador Continues Daily Bitcoin Purchases, Holdings Reach 7,798 BTC Worth Over $643 Million

Odaily News: El Salvador's National Bitcoin Office has disclosed that the country added 7 BTC over the past 7 days, bringing its national reserves to 7,798 BTC, valued at over $643 million at the time. The country is still executing its strategy of purchasing 1 BTC per day.

The International Monetary Fund (IMF) recently stated that El Salvador has not met the relevant standards for public sector holdings of crypto assets, but approved a waiver based on corrective measures and new commitments. The IMF had previously required El Salvador to gradually stop directly purchasing Bitcoin in order to secure a $1.4 billion credit facility.

IMF First Deputy Managing Director Dan Katz said that aside from documented donations, El Salvador is not expected to continue increasing its Bitcoin holdings. El Salvador's recent additional holdings are reportedly funded by unidentified private donors. (Bitcoin.com News)