El Salvador Makes Biggest-Ever Bitcoin Purchase as Prices Hit Multi-Month Low
The post El Salvador Makes Biggest-Ever Bitcoin Purchase as Prices Hit Multi-Month Low appeared first on Coinpedia Fintech News
El Salvador has made headlines once again after revealing its biggest-ever single-day Bitcoin purchase. Even as the market bleeds and Bitcoin trades at its lowest levels in months, the country doubled down on its strategy, strengthening the “buy the dip” narrative.
On Monday evening, El Salvador added 1,090 BTC worth roughly $100 million to its reserves. This pushed the nation’s total holdings to 7,474 BTC, now valued at around $676 million. President Nayib Bukele shared the update on X, reinforcing the country’s commitment to growing its Bitcoin treasury despite strong market pressure.
El Salvador Buys Bitcoin During the Dip
Bitcoin briefly dropped below $90,000, touching its lowest level since April. El Salvador seized the opportunity, continuing its pattern of accumulating larger amounts whenever prices fall. The government has been stacking Bitcoin consistently since November 2022 through its “1 BTC per day” strategy, and Monday’s major addition aligns perfectly with its long-term accumulation plan.
IMF Agreement Conflict Raises Questions
The latest purchase comes against the backdrop of El Salvador’s $1.4 billion IMF agreement, which requires the public sector to stop making new Bitcoin purchases. Earlier this year, finance officials stated that no Bitcoin had been bought since February—directly contradicting Bukele’s public announcement.
An IMF report added further complexity, noting that increases in Bitcoin reserves could come from internal wallet movements or consolidations, not necessarily new purchases. This leaves the origin of the 1,090 BTC open to interpretation.
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Bitcoin Office Defends Government Strategy
Despite the conflicting statements, El Salvador’s Bitcoin Office maintains a firm stance. Stacy Herbert, head of the office, emphasized that the blockchain itself records and verifies the nation’s Bitcoin activity. Her comments highlight the government’s insistence that its accumulation efforts remain transparent and intentional.
El Salvador Reinforces Long-Term Bitcoin Strategy
The latest addition of 1,090 BTC underscores El Salvador’s determination to continue treating Bitcoin as a long-term national asset. The government remains committed to buying dips, growing its treasury, and positioning Bitcoin at the center of the country’s economic vision. Despite external pressure, IMF restrictions, and differing interpretations, the nation’s Bitcoin accumulation strategy shows no signs of slowing.
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FAQs
El Salvador increased its holdings to take advantage of lower prices, continuing its long-term strategy of accumulating Bitcoin during major market pullbacks.
The country added 1,090 BTC in a single day, its largest buy so far, bringing total reserves to 7,474 BTC as it strengthens its long-term accumulation plan.
It reinforces the nation’s commitment to treating Bitcoin as a strategic asset, showing it plans to keep accumulating despite market pressure or outside concerns.
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