As the Bitcoin exchange rate slumped, the Salvadoran government purchased another 11 Bitcoins for its national reserve, which is valued at around $1,1 million at today’s prices. The South American nation now holds 6067 BTC.
The purchase came just days after the Central American the country agreed soften your Bitcoin-policy to obtain a $1,4 billion loan from the International Monetary Fund.
The state’s Bitcoin reserves are currently equivalent to about $600 million, and it seems that this is not the limit. The country’s president is willing to accept deported criminals and migrants from the United States in exchange for payment.
There is currently no official information that Bukele is ready to accept payment in cryptocurrency, much less bitcoins, but the crypto community has interpreted it that way.
In addition, the government of the Central American state went beyond the declared strategy of «one BTC per day», which was also perceived as a good sign for the strengthening of accumulations of the first cryptocurrency. Usually, the result of large purchases is an increase in the rate.