El Salvador is on a Bitcoin buying spree, adding 12 shiny new BTC to its reserves! This move comes as Bitcoin flirts with its all-time highs, proving the country is as committed as ever to its crypto strategy.
In a bold move, El Salvador's National Bitcoin Office announced it snagged 11 BTC on January 19th, pumping up its Strategic Bitcoin Reserve, which now boasts a value of over a cool million dollars. Just to keep the excitement rolling, they grabbed another Bitcoin the next day for a sweet $106,000. Now, their treasure chest holds a grand total of 6,044 BTC, valued at a whopping $620 million as Bitcoin dances above $103,000.
Despite shaking hands with the International Monetary Fund (IMF) on a $1.4 billion financing deal, which included dialing down some Bitcoin initiatives, El Salvador isn't hitting the brakes. Just a day after this agreement, they splurged $1 million on Bitcoin, showing the world that their love for BTC is unshakable.
President Nayib Bukele and his crew are keeping their Bitcoin dreams alive, standing firm on their mission to make Bitcoin an official currency since its groundbreaking adoption in 2021.
In other exciting news, El Salvador's crypto-friendly vibe is attracting big players. Tether, the USDT stablecoin giant, has decided to set up shop in El Salvador, thanks to a snazzy Digital Asset Service Provider (DASP) license. This move is all about riding the Bitcoin wave and boosting global adoption, with Tether’s CEO tipping his hat to El Salvador’s forward-thinking approach to digital assets and its vision for financial freedom and decentralized tech.
It's an exciting time in El Salvador, where Bitcoin isn't just a currency—it's a revolution!
