El Salvador Acquires 12 Bitcoins
Despite a previous agreement with the International Monetary Fund (IMF) to reduce the country’s cryptocurrency policies, El Salvador has purchased 12 Bitcoin for its reserve in the past 24 hours.
According to a post from the National Bitcoin Office on January 19, the country bought 11 Bitcoin worth over $1 million for its Strategic Bitcoin Reserve, as well as 1 Bitcoin on January 20 for $106,000.
The Bitcoin Office’s portfolio tracker shows that El Salvador now holds 6,044 BTC, valued at nearly $610 million with the current price of around $101,000 according to CoinGecko.
This comes after Bitcoin briefly reached a new all-time high of $109,000 on January 20, breaking its previous record of $108,000 on December 17.
The surge in Bitcoin’s value occurred just hours before the inauguration of the 47th US president, Donald Trump, at 4:00 pm UTC.
