Amid massive sell-off, El Salvador buys up to 1,090 BTC!

Jakarta, Pintu News – El Salvador is back in the spotlight with its largest purchase of Bitcoin despite the market downturn. The country bought 1,090 BTC in one day, which is the largest purchase since the cryptocurrency was made legal tender.

Record Buying Amid Market Uncertainty

Although the price of Bitcoin (BTC) is on the decline, El Salvador is unfazed and has made their biggest purchase yet. With an additional 1,090 BTC, the country’s total reserves now stand at around 7,474 BTC, with an estimated value of $676 million. This purchase is part of a strategy that has been announced since November 2022 to buy 1 Bitcoin every day.

The government’s Bitcoin Office and President Nayib Bukele have confirmed this transaction. Stacy Herbert, Director of the Bitcoin Office, stated that these regular purchases aim to increase the country’s financial independence without relying on the banking system and the US dollar.

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Bitcoin Cooperation and Influence Increases

Earlier this year, El Salvador announced an unexpected partnership with Pakistan to explore the use of Bitcoin in public infrastructure. This cooperation drew attention given the two countries’ previously limited economic ties. In addition, El Salvador is also planning to organize a government-sponsored Bitcoin conference, Bitcoin Histórico, to be held in San Salvador in November.

In addition, El Salvador has started digitizing official documents using the Bitcoin blockchain network. The collaboration is with US-based company Simple Proof. CEO Carlos Toriello stated that the system uses timestamps to ensure the authenticity of digital records.

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Controversy and Criticism of Bitcoin Policy

Despite the commitment to daily purchases, there was confusion in July when two senior finance department officials stated that the country had not purchased Bitcoin since February. This contradicted statements by President Bukele and the Bitcoin Office.

Meanwhile, the International Monetary Fund (IMF) has repeatedly warned about El Salvador’s high exposure to Bitcoin. Last month, El Salvador reported that it had $482 million in unrealized gains. The value of the country’s reserves increased to about $775 million, which is a 162% increase since 2022. At that time, their reserves amounted to about 6,246 BTC.

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Despite facing challenges and criticism, El Salvador continues to invest in Bitcoin as part of their economic strategy. This latest large purchase demonstrates the country’s commitment to the adoption of new financial technologies, despite having to deal with significant market fluctuations.

FAQ

What is Bitcoin (BTC)?

Bitcoin (BTC) is a digital or crypto currency that is not controlled by any central bank or government, allowing peer-to-peer transactions on the internet.

Why is El Salvador buying large amounts of Bitcoin (BTC)?

El Salvador is buying Bitcoin (BTC) as part of a strategy to increase financial independence and reduce dependence on the traditional banking system and the US dollar.

How much total Bitcoin (BTC) does El Salvador have after the latest purchase?

After the latest purchase, El Salvador has a total of approximately 7,474 Bitcoin (BTC), with an estimated value of $676 million.

What impact will the IMF warning have on El Salvador’s Bitcoin policy?

The International Monetary Fund (IMF) has warned El Salvador about the high risk of heavy exposure to Bitcoin (BTC), which could affect the country’s financial stability.

What is the purpose of the Bitcoin Histórico conference to be held in El Salvador?

The Bitcoin Histórico conference aims to discuss and promote the use of Bitcoin as legal tender and explore the further potential of blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. El Salvador Makes Its Largest Bitcoin Purchase Ever Despite Rising Market Sell-Off. Accessed on November 19, 2025
• Featured Image: Generated byh AI