El Salvador made its largest BTC purchase amid a drop below $90 000

Key poiyns:

• El Salvador purchased 1090 BTC worth approximately $100 million, bringing its total reserves to 7474 BTC.
• The purchase was made amid a drop in BTC below $90 000 and the ongoing “1 BTC per day” policy.

El Salvador reported its largest single-day purchase of bitcoin ever: the country added 1090 BTC, bringing its total assets to 7474 BTC. According to Bitcoin Office, the transaction took place on Monday evening and is estimated to be worth approximately $100 million. The purchase coincided with a sharp decline in the price of bitcoin, which fell below $90 000 during the Asian session.

The Salvadoran government continues to build up its bitcoin reserves in line with its current “1 BTC per day” policy, launched in November 2022. Despite the IMF’s demands to exclude new risky assets from the public sector balance sheet, the authorities emphasize that the accumulation of bitcoin will not stop.

Largest purchase since the program’s launch

According to Bitcoin Office, the purchase was recorded at 18:01 (UTC-5). It became the largest single transaction by the state, significantly exceeding the usual accumulation rate. Previously, the country purchased additional volumes of BTC mainly during price declines, using market corrections to increase strategic reserves.

President Nayib Bukele posted a screenshot of the recent transaction on his X account. He has repeatedly stated that buying bitcoins is a long-term strategy for the country and will continue regardless of external circumstances.

Source: X.com

The purchase coincided with a deterioration in global market sentiment: bitcoin fell to its lowest levels since April. El Salvador traditionally views such periods as an opportunity to replenish reserves and strengthen BTC’s position as part of its financial strategy.

It remains unclear whether the purchase was made directly on the market. The IMF cooperation program imposes restrictions on the use of public funds to purchase risky assets, but the authorities have publicly stated that the accumulation policy will continue regardless of the agreements.