El Salvador has resumed its bitcoin purchases after a week of hiatus, according to data presented by the Bitcoin Office of the country. The organization reported that 7 BTC more had been acquired to become part of the country’s strategic bitcoin reserve.
The purchase comes to thwart the rumors of a possible stop in these movements. While President Nayib Bukele has reaffirmed that El Salvador will continue to purchase bitcoin despite the deal inked with the International Monetary Fund (IMF), the government recently made regulatory changes concerning the consideration of bitcoin as legal tender.
And while the wording of the reform of the bitcoin law might be confusing, these modifications are already affecting how bitcoin is treated in the internal Salvadorean market, where acceptance might be affected.
Read more: El Salvador Complies With IMF Requirements: Bitcoin Legal Tender Status Withdrawn
Nonetheless, this new purchase serves as a reminder that El Salvador will maintain its purchases as long as the IMF, which agreed to open a $1.4 billion credit facility to the Bukele administration, still allows it.
Tongue in cheek, Bukele highlighted the purchase on social media, posting a screenshot of the acquisition. He stated:
O ye of little faith…
Strategy’s Michael Saylor, who met with Bukele recently, remarked on his trust in the Salvadoran bitcoin compromise. “I have faith,” he answered.
With this purchase, El Salvador’s strategic bitcoin reserves reaches 6.088,18 BTC, valued at nearly $560 million at current prices.
Even with the pause, El Salvador acquired 41 BTC during the last 30 days. This means that Bukele’s government has exceeded the goals of its “one bitcoin a day” purchase program implemented in March.
At that time, Bulele stated that this would continue until BTC became “unaffordable” with fiat currencies.
Read more: El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC ‘Becomes Unaffordable’ With Fiat Currencies, Says President Bukele
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