El Salvador Adds 8 Bitcoins, Total Holdings Reach $649 Million
El Salvador expanded its BTC holdings by over 1,000 coins despite global market declines, continuing its one-BTC-per-day policy and engaging with U.S. officials on digital asset oversight.
El Salvador has added more than 1,000 BTC to its national reserves during a sharp market selloff, bringing the total close to 7,500 BTC. The accumulation follows the government’s policy of purchasing one BTC per day, a strategy maintained despite IMF guidance discouraging further public sector cryptocurrency holdings. President Nayib Bukele’s latest acquisition coincided with consultations in Washington on digital asset regulation, including a June meeting with White House crypto adviser Bo Hines. Bitcoin’s price fell below $90,000 amid weakening global risk sentiment. The country’s steadfast buying underscores its commitment to integrating Bitcoin into its financial framework.
- Bitcoin (BTC): A decentralized digital currency operating without a central bank, based on peer-to-peer blockchain technology.
- BTC Holdings: The total amount of Bitcoin owned by an individual, institution, or country, often measured in cryptocurrency units and fiat value.