El Salvador Adds Another Bitcoin to Its Reserve, Worth Over $600 Million

El Salvador's national bitcoin reserve has continued to grow, reaching 7,762 BTC as of this week. This comes despite reservations from the International Monetary Fund (IMF) about the country's public-sector bitcoin purchases.

The government has been buying one bitcoin per day since it made Bitcoin legal tender in 2021, a policy that shows no signs of slowing down five years into the experiment.

Between January and April alone, El Salvador added over 1,600 coins to its reserve, with the current stack worth around $598 million at today's price near $77,000. President Nayib Bukele has been clear about why the government is maintaining this policy: it's a long-term position that focuses on accumulating coins rather than timing market fluctuations.

The daily buys are just one part of El Salvador's broader cryptocurrency strategy, which includes making Bitcoin legal tender and building the Chivo wallet to encourage everyday use. While critics argue that the IMF friction demonstrates the strategy carries real diplomatic cost, supporters claim it's a patient bet that looks obvious only in hindsight.