{"id":21870,"date":"2025-03-10T10:37:32","date_gmt":"2025-03-10T08:37:32","guid":{"rendered":"https:\/\/forklog.com\/en\/el-salvador-expands-bitcoin-reserves-to-6111-btc\/"},"modified":"2025-03-10T10:37:32","modified_gmt":"2025-03-10T08:37:32","slug":"el-salvador-expands-bitcoin-reserves-to-6111-btc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/el-salvador-expands-bitcoin-reserves-to-6111-btc\/","title":{"rendered":"El Salvador Expands Bitcoin Reserves to 6,111 BTC"},"content":{"rendered":"<p>On March 9, the authorities of El Salvador <a href=\"https:\/\/bitcoin.gob.sv\/ru\/\">expanded<\/a> the national bitcoin reserve by 6 BTC. The total amount of coins held by the state reached 6,111.18 BTC ($501.9 million).<\/p>\n<p>In the past seven days, the fund increased by 17 BTC, and over the month <em>\u2014<\/em> by 40 BTC.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1463.webp\" alt=\"1-1463\" class=\"wp-image-253615\"\/><figcaption class=\"wp-element-caption\">Data: Bitcoin Office.<\/figcaption><\/figure>\n<p>On February 26, El Salvador and the <span data-descr=\"International Monetary Fund\" class=\"old_tooltip\">IMF<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-augments-bitcoin-reserves-by-19-btc\">signed an agreement<\/a> for an Extended Fund Facility (EFF) of $1.4 billion over 40 months.<\/p>\n<p>A preliminary step for approval was the <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-revises-bitcoin-strategy-following-imfs-directive\">amendment<\/a> of 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 minimal use of the first cryptocurrency due to price volatility and weak public trust.<\/p>\n<p>On March 3, the organization <a href=\"https:\/\/www.imf.org\/en\/Publications\/CR\/Issues\/2025\/03\/03\/El-Salvador-Request-for-Extended-Arrangement-Under-the-Extended-Fund-Facility-Press-Release-562921\">clarified<\/a> that the EFF conditions include restrictions on the government&#8217;s purchase of coins.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u201cThis all stops in April.\u201d \u201cThis all stops in June.\u201d \u201cThis all stops in December.\u201d<\/p>\n<p>No, it\u2019s not stopping.<\/p>\n<p>If it didn\u2019t stop when the world ostracized us and most \u201cbitcoiners\u201d abandoned us, it won\u2019t stop now, and it won\u2019t stop in the future.<\/p>\n<p>Proof of work > proof of whining <a href=\"https:\/\/t.co\/9pC0PoY3YQ\">https:\/\/t.co\/9pC0PoY3YQ<\/a><\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1897019629702410551?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<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis [acquisition of bitcoins] will not stop now, nor in the future,\u201d<\/em> commented earlier the President of El Salvador, Nayib Bukele.<\/p>\n<\/blockquote>\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 incentivized residents to use the Chivo wallet by paying $30 in digital gold for app registration. The state regularly <a href=\"https:\/\/forklog.com\/en\/news\/el-salvadors-unrealized-bitcoin-gains-reach-41-million\">purchased<\/a> coins and <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-mines-nearly-474-btc-in-three-years\">engaged in mining<\/a>.<\/p>\n<p>On March 6, U.S. President Donald Trump <a href=\"https:\/\/forklog.com\/en\/news\/trump-establishes-u-s-strategic-bitcoin-reserve\">signed an order<\/a> to create a bitcoin reserve, which provides for the storage of assets confiscated by the Treasury in criminal and civil cases.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 9, the authorities of El Salvador expanded the national bitcoin reserve by 6 BTC. The total amount of coins held by the state reached 6,111.18 BTC ($501.9 million). In the past seven days, the fund increased by 17 BTC, and over the month \u2014 by 40 BTC. Data: Bitcoin Office. On February 26, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21869,"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":[1641,1278,204],"class_list":["post-21870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-el-salvador","tag-imf"],"aioseo_notices":[],"amp_enabled":true,"views":"52","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21870","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=21870"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21869"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}