El Salvador's Bitcoin reserve increases to 7,762 BTC, holdings valued at 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. Based on 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 and make merchant acceptance of Bitcoin voluntary under a $1.4 billion financing agreement; related legal amendments revoked Bitcoin's status as legal tender but did not terminate the reserve accumulation policy.
El Salvador became the first country to adopt Bitcoin as legal tender in 2021 and has continued its policy of purchasing 1 Bitcoin daily. From January to April this year, the government added more than 1,600 Bitcoins to its reserves. (Bitcoin.com News)
