El Salvador Makes Major 1,090 BTC Buy Amid Market Drop

El Salvador expanded its bitcoin reserve on Monday after acquiring 1,090 BTC during a market dip that pushed the price of Bitcoin below $90,000. The addition raised the country’s reported holdings to 7,474 BTC, worth about $676 million at the time of disclosure. The purchase occurred at 6:01 p.m. Eastern time as short-term selling increased across the market. The update came from the nation’s Bitcoin Office, and President Nayib Bukele later shared a screenshot of the transaction on his X account.

The latest purchase marked the largest single-day addition since the government adopted Bitcoin as legal tender in 2021. El Salvador has added 1 BTC daily since late 2022. Officials also tend to increase holdings during steep price declines.

The announcement followed a familiar pattern of accumulation during periods of market stress. The transaction also occurred during Bitcoin’s lowest level since April. The country’s earlier legal-tender decision positioned Bitcoin within national economic planning.