El Salvador’s Bitcoin reserve tops 7,800 coins despite IMF limits

The country's national stash reached 7,807 BTC by October 16, even as its IMF deal restricts public sector purchases El Salvador’s national Bitcoin reserve has moved past 7,800 coins. By October 16, holdings stood at 7,807 BTC , worth approximately $640–$650 million with Bitcoin trading around $82,000. That milestone lands in an odd spot. The country signed a $1.4 billion loan agreement with the International Monetary Fund that was supposed to curb exactly this kind of accumulation. The reserve kept growing anyway. The growth traces back to a simple rule. El Salvador’s government has followed a policy of acquiring one BTC per day, a practice that began in September 2021. The more telling figure is what happened after the IMF arrived.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.