El Salvador increases Bitcoin reserves with daily purchases. Experts see potential global impact.
El Salvador continued its daily Bitcoin purchase policy by acquiring 2 more units of the digital currency on February 1st. The country usually buys 1 Bitcoin daily for its strategic reserves but has recently increased the buying pace. According to Bitcoin tracker data, El Salvador now holds 6,055 Bitcoins worth over $612 million, with over 50 Bitcoins added in the last 30 days. Despite mixed reactions to canceling the mandatory Bitcoin acceptance law for businesses to receive loans from the IMF, El Salvador persists in increasing its Bitcoin reserves. Experts believe small countries accepting Bitcoin as a strategic asset could influence larger nations.
