El Salvador's Bold Bitcoin Bet Amid Market Shake-Up

El Salvador made a big move in the Bitcoin world. They bought a lot of Bitcoin when the price was dropping. This is not just any purchase. It is the largest single-day buy since they started using Bitcoin in 2021. They added about 1, 090 BTC to their reserves. That is worth around $100 million. President Nayib Bukele shared this news on X. He showed a screenshot of the government's Bitcoin dashboard. It showed their total holdings had grown to 7, 474 BTC. That is a lot of Bitcoin! This buy was not small. It was a 17% jump in their national reserves in just seven days. It was the biggest single-day addition to their Bitcoin stack. They did this during a time when the market was not doing well. Bitcoin's price had dropped nearly 30% from its high in October. This drop was because of worries about interest rates and a correction in tech stocks. El Salvador has been buying Bitcoin regularly since November 2022. They commit to buying 1 BTC every day. They do this no matter if the market is up or down. Sometimes, they buy more when the price drops a lot. This new buy is part of their plan. They put the new coins into their Strategic Bitcoin Reserve. This is a special way they store their Bitcoin. They use many wallets. Each wallet holds no more than 500 BTC. They also have a public dashboard. It shows all their Bitcoin balances. Before this buy, they had between 6, 100 and 6, 313 BTC. In May and September, they showed they had made a lot of profit. Bitcoin was trading near $100, 000 then. Now, third-party trackers show they have 7, 474 BTC. This buy is small compared to the daily Bitcoin trading. But it is big during times when not many people are buying. This buy is not just about the money. It is also about standing up to the IMF. El Salvador has a loan deal with the IMF. They agreed to stop some Bitcoin activities. But they keep buying Bitcoin. The IMF says they are not supposed to add more Bitcoin to their reserves. But Bukele keeps doing it. The IMF tries to explain this. They say the Strategic Bitcoin Reserve is different. But it is not clear how. This buy is also important for the Bitcoin market. El Salvador is one of the few countries with a Bitcoin treasury. They show they are serious about Bitcoin. They buy more when the price drops. This gives support to the market. It shows they are committed to Bitcoin. They do this even when others are selling.