As Bitcoin reserves reach over $574,000,000, El Salvador increases daily Bitcoin purchases elevenfold for two days
On two occasions last week, the El Salvadorian government increased its daily purchase of Bitcoin (BTC) by a factor of eleven.
In November 2022, not long after the crypto exchange FTX collapsed, the Central American nation began purchasing one Bitcoin daily.
El Salvador, on the other hand, spent almost $1.07 million on 11 Bitcoin on Friday, and another 11 Bitcoin on Sunday, according to the bitcoin data portal Arkham.
According to Bitcoin supporter Max Keiser, El Salvador's president Nayib Bukele is increasing his purchases "with an interim goal of acquiring 20,000 more Bitcoin."
These supplementary acquisitions follow El Salvador's recent acquisition of an IMF credit facility in the amount of $1.4 billion.
Although the International Monetary Fund (IMF) stated that the facility would "catalyze" $3.5 billion in funding from the World Bank and other FIs, a UN financial agency asserted in a press release that El Salvador's government had agreed to curtail its cryptocurrency initiatives in order to facilitate the deal.
#Crypto2025Trends #BTCNextMove #ElSalvador $BTC $ETH $BNB
