{"id":21738,"date":"2025-03-05T10:16:41","date_gmt":"2025-03-05T08:16:41","guid":{"rendered":"https:\/\/forklog.com\/en\/el-salvador-augments-bitcoin-reserves-by-19-btc\/"},"modified":"2025-03-05T10:16:41","modified_gmt":"2025-03-05T08:16:41","slug":"el-salvador-augments-bitcoin-reserves-by-19-btc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/el-salvador-augments-bitcoin-reserves-by-19-btc\/","title":{"rendered":"El Salvador Augments Bitcoin Reserves by 19 BTC"},"content":{"rendered":"<p>On March 4, El Salvador&#8217;s authorities expanded the national bitcoin reserve by 19 BTC, once again deviating from the plan to purchase one coin per day. This occurred amid a decline in the first cryptocurrency&#8217;s price <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-dips-below-83000-amid-trumps-tariff-announcement-on-eu-goods\">below $90,000<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"qme\" dir=\"ltr\">? <a href=\"https:\/\/t.co\/cR1U4he9io\">pic.twitter.com\/cR1U4he9io<\/a><\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1896745753521148308?ref_src=twsrc%5Etfw\">March 4, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/04\/el-salvador-s-bukele-adds-19-bitcoin-as-imf-pushes-back-on-btc-adoption\">CoinDesk<\/a> noted the signing of an Extended Fund Facility (EFF) agreement on February 26 between El Salvador and the <span data-descr=\"International Monetary Fund\" class=\"old_tooltip\">IMF<\/span> for $1.4 billion over 40 months.<\/p>\n<p>The initiative aims to address macroeconomic imbalances. It is expected that by 2029, the country&#8217;s public debt will decrease to 81% of GDP, with economic growth rates reaching 2.5-3%.<\/p>\n<p>The initial tranche amounted to $113 million. The IMF prohibited the voluntary accumulation of the first cryptocurrency by the public sector under the program.<\/p>\n<p>A preliminary step for the approval of the EFF was the <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-revises-bitcoin-strategy-following-imfs-directive\">amendment<\/a> to the bitcoin law. These amendments removed the mandatory acceptance of digital gold by private organizations and revoked its status as legal tender.<\/p>\n<p>The IMF noted the insignificant level of usage of the first cryptocurrency due to price volatility and weak public trust.<\/p>\n<p>At the time of writing, the country&#8217;s authorities <a href=\"https:\/\/nayibtracker.com\/\">had acquired<\/a> a total of 6,101 BTC at an average price of $46,517. The total value of the coins amounts to $533.4 million.<\/p>\n<p>In September 2021, El Salvador became the first country in the world to recognize bitcoin as legal tender. Services and merchants were required to accept the cryptocurrency. <\/p>\n<p>The government encouraged residents to use the Chivo wallet by paying $30 in digital gold for registration in the application. The state regularly <a href=\"https:\/\/forklog.com\/en\/news\/el-salvadors-unrealized-bitcoin-gains-reach-41-million\">purchased<\/a> bitcoins and <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-mines-nearly-474-btc-in-three-years\">engaged in mining<\/a>.<\/p>\n<p>Earlier, U.S. President Donald Trump <a href=\"https:\/\/forklog.com\/en\/news\/white-house-working-group-to-assess-a-national-crypto-reserve\">established a task force<\/a> on digital assets, which will also assess the prospects of establishing a national reserve in cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 4, El Salvador&#8217;s authorities expanded the national bitcoin reserve by 19 BTC, once again deviating from the plan to purchase one coin per day. This occurred amid a decline in the first cryptocurrency&#8217;s price below $90,000. ? pic.twitter.com\/cR1U4he9io \u2014 Nayib Bukele (@nayibbukele) March 4, 2025 CoinDesk noted the signing of an Extended Fund [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1538,1641,1278,204],"class_list":["post-21738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-purchase","tag-bitcoin-reserves","tag-el-salvador","tag-imf"],"aioseo_notices":[],"amp_enabled":true,"views":"69","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21738"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21737"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}