EddieJayonCrypto
22 Jan 25
El Salvador has increased its Bitcoin reserves by acquiring 12 BTC, despite a recent agreement with the IMF to scale back some of its crypto policies. The country's total holdings now stand at 6,044 BTC, valued at roughly $620 million. Additionally, Bitfinex Securities launched tokenized US Treasury...
El Salvador has increased its Bitcoin reserves by acquiring 12 BTC, despite a recent agreement with the IMF to scale back some of its crypto policies. The country's total holdings now stand at 6,044 BTC, valued at roughly $620 million. Additionally, Bitfinex Securities launched tokenized US Treasury bills in El Salvador, and Tether announced relocating its business and headquarters to the country. El Salvador added 12 BTC to its reserves in the past day, ramping up its Bitcoin purchase as the leading crypto asset hovers near its all-time high. This development comes despite a recent agreement with the International Monetary Fund (IMF) to scale back some of its crypto policies.
The National Bitcoin Office announced via X on January 19th that it had purchased 11 BTC for its Strategic Bitcoin Reserve, which is currently worth more than $1 million. An additional Bitcoin was acquired on the following day for $106,000. The office’s portfolio tracker further revealed that the country’s total holdings now stand at 6,044 BTC, valued at roughly $620 million, with Bitcoin trading above $103,000. Last year, Bitfinex Securities launched tokenized US Treasury bills in El Salvador under the country’s new securities regime with the main objective of raising $30 million and providing investors exposure to short-term Treasury bonds through blockchain technology. USDT stablecoin issuer Tether announced relocating its business and headquarters to El Salvador after acquiring a Digital Asset Service Provider (DASP) license. The move aligns with El Salvador’s Bitcoin-friendly policies, aiming to foster global Bitcoin adoption and innovation in emerging markets.