El Salvador Acquires Additional Bitcoin, Adding 5 More as Value Reaches $83K

El Salvador has once again increased its Bitcoin holdings, acquiring an additional 5 BTC during a market downturn that saw the asset drop to $83,000.

This purchase, costing approximately $415,000, raises the nation’s total Bitcoin reserves to 6,100 BTC, currently valued at around $510 million, according to data from Arkham Intelligence.

Despite ongoing scrutiny from global financial institutions, El Salvador has remained steadfast in its commitment to Bitcoin, adhering to a strategy of acquiring one BTC daily since November 2022.

El Salvador Acquires Bitcoin Following $1.4B IMF Loan Approval

The recent acquisition follows the International Monetary Fund (IMF) granting a $1.4 billion loan to the country on February 27.

The agreement includes stipulations that require El Salvador to limit state involvement in cryptocurrency transactions, including Bitcoin purchases.

In compliance with IMF requirements, El Salvador has adjusted its Bitcoin policies, such as making BTC acceptance optional and reducing direct government engagement in related initiatives.

The IMF’s program aims to enhance fiscal stability while addressing the risks associated with the nation’s Bitcoin adoption.

Beyond cryptocurrency, President Nayib Bukele is advocating for El Salvador to become a regional technology hub.

He recently met with Andreessen Horowitz (a16z) co-founders Ben Horowitz and Marc Andreessen to explore AI investment opportunities.

President Bukele recently convened at Casa Presidencial with the co-founders of Silicon Valley venture capital firm, Andreessen Horowitz: @pmarca @bhorowitz
Topics discussed included:
Investment opportunities in El Salvador as an emerging regional tech hub focused on freedom… pic.twitter.com/WwQy0wkApY

— The Bitcoin Office (@bitcoinofficesv) March 2, 2025

The discussions centered on policy incentives, including a 0% tax rate for technology sectors and regulatory support for AI development, as part of efforts to position El Salvador as a leader in technological innovation.

As reported, El Salvador has also commenced the construction of “Bitcoin City Airport,” an air transport hub that is expected to eventually connect Bitcoin City to the global network.

The country’s official press agency released a video on its YouTube channel showcasing President Nayib Bukele at a press event at the construction site, laying the first foundation stone for what will eventually be known as Pacific Airport (official name).

El Salvador Accumulates BTC While Others Retreat

While El Salvador continues to acquire BTC, some other nations have adopted a contrasting approach.

For instance, Swiss National Bank (SNB) President Martin Schlegel has rejected the idea of adding Bitcoin to Switzerland’s reserve assets, citing concerns over stability, liquidity, and security risks.

In a March 1 interview with Swiss media outlet Tamedia, Schlegel contended that Bitcoin’s volatility renders it an inappropriate reserve asset for the nation’s central bank.

“Our reserves must be highly liquid so they can be utilized quickly for monetary policy purposes if necessary,” he stated, underscoring that Bitcoin’s price fluctuations and market volatility are incompatible with the SNB’s financial strategy.

It is noteworthy that several U.S. states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have also introduced bills that would allow them to hold Bitcoin and other cryptocurrencies as reserve assets.

More recently, lawmakers in Ohio introduced House Bill 116, which aims to prevent the state from imposing additional taxes on digital assets when utilized for payments.

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