El Salvador has significantly expanded its Strategic #Bitcoin Reserve by purchasing $1 million worth of BTC following a recent policy review and financing deal.

According to an update from the National Bitcoin Office, the country added 11 Bitcoin tokens to its holdings in a single transaction. This acquisition, reflected on the official website, brings El Salvador’s total Bitcoin reserve to 5,980.77 BTC, valued at approximately $586.5 million. 

The move represents a notable shift from its previous strategy of daily Bitcoin purchases, which began on November 18, 2022, as announced by President Nayib Bukele.

Bitcoin Office Outlines Accelerated Plans

The purchase comes a day after National Bitcoin Office Director Stacy Herbert announced plans to potentially accelerate Bitcoin purchases. In a December 19 update, the director emphasized the office’s commitment to ongoing Bitcoin acquisitions, strengthening Bitcoin capital markets, and fostering education initiatives.

Among these initiatives are new educational programs, including Grades 2 and 3 Little HODLer workbooks on Bitcoin and money, set for release in January 2025.

Other efforts include the continued development of Bitcoin policy, attracting investors, and building education programs for developers and public servants.

For instance, the CUBO+ program will graduate more than 20 Bitcoin and Lightning developers by January 2025, while the Mi Primer Bitcoin and Node Nation initiatives remain active in high schools across El Salvador. 

Additionally, 80,000 civil servants are undergoing Bitcoin certification through the ESIAP program. The Chivo Wallet, previously introduced by the government, will be wound down, with private-sector Bitcoin wallets continuing to serve the population.
#Cryptonews