El Salvador raised its national bitcoin reserve to 7,762 BTC, as confirmed by the government’s Bitcoin Office, maintaining its policy of acquiring one unit per day regardless of market price.
At the current price of approximately $77,000 per coin, the treasury is worth close to $598 million, positioning El Salvador among the largest formally declared sovereign holders of the cryptocurrency worldwide.
The accumulation strategy continues despite the $1.4 billion financing agreement signed with the International Monetary Fund, which urged the government to limit public sector purchases and to make bitcoin acceptance voluntary for merchants.
While legal tender status was removed through a legislative amendment tied to that same agreement, the daily purchase policy was never formally implemented. Between January and April, El Salvador added more than 1,600 coins to its reserve, a pace that shows no signs of slowing down.
El Salvador’s president, Nayib Bukele, has justified the strategy as a long-term position, equivalent to a national-scale dollar cost average, where the coin count matters more than the price on any given day.
Source:Â https://bitcoin.gob.sv/es/
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