El Salvador Buys $100 Million Worth of Bitcoin Amid Dip

El Salvador has acquired 1,090 BTC for approximately $101 million, according to data shared by Lookonchain and Arkham Intelligence.

The latest purchase comes on top of the country’s daily 1 BTC acquisition program commenced a few years ago. Following this, El Salvador’s President Nayib Bukele confirmed that the country now holds a total of $7,474.37 BTC.

The acquisition’s timing coincides with an ongoing decline in Bitcoin’s price, triggering suggestions that the country bought the dip. Regardless, the move represents a major boost to the country’s Bitcoin acquisition policy.

El Salvador Doubles Down on Bitcoin Acquisition Program

El Salvador’s latest Bitcoin purchase suggests that the country remains committed to its decision to hold the asset. The country made history in 2021 by becoming the first sovereign nation to adopt Bitcoin as a legal tender. President Bukele touted the initiative as a process to modernize the country’s economy, attract foreign investment, and others.

However, the move faced criticism from various sectors, including the International Monetary Fund (IMF), both domestically and internationally. The criticism primarily focused on Bitcoin’s volatility, which raised concerns about potential adverse economic impacts.

In January 2025, El Salvador revoked Bitcoin’s status as legal tender, making its use voluntary for individuals and businesses. The revocation came as part of a deal to secure $1.4 billion in financial support from the IMF.

Despite this, the IMF alleged in July that El Salvador stopped buying Bitcoin, contrary to its regular purchase claims. The IMF suggested that El Salvador’s growing Bitcoin holdings were not the result of active purchases, but rather a reorganization of existing assets.

The agency claimed in a footnote of the July 15 report that;

“Increases in [El Salvador’s] Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin across various government-owned wallets.”

Despite this allegation, the country’s latest purchase suggests its strong commitment to long-term Bitcoin holding. The move reinforces El Salvador’s status as the Bitcoin country while diversifying its foreign reserves and promoting financial innovation. These efforts continue to position El Salvador as a leader in the global digital asset landscape.

BTC Price Falls Below $90,000

El Salvador’s Bitcoin purchase coincides with a major decline in the asset’s price, according to CoinGecko data. On November 18, Bitcoin’s price dipped below $90,000, reaching $89,368, before correcting to $90,914. Despite the correction, the current price represents a notable 4.5% decline from the approximately $95,600 price reached yesterday.

The price dip represents a six-month low as the asset reached its lowest level since May 2025. The decline comes as part of a prolonged struggle in Bitcoin’s price performance since the Oct. 10 market collapse incident. Specifically, the asset is currently trading at an approximate 14.6% decline over the past month.

Meanwhile, market experts have described the bearish price movement as an opportunity to acquire the asset. Gemini co-founder Cameron Winklevoss said this is the last time investors will be able to buy Bitcoin below $90,000. Ryan Rasmussen, Bitwise’s Head of Research, also shared similar thoughts, emphasizing the importance of buying the dip.

Additionally, market experts, such as Bitwise’s CEO Hunter Horsley, believe the asset is headed higher in 2026 if this decline continues. He said:

“If BTC ends the year down, the four-year cycle model is indisputably incorrect. I think we’re headed higher in 2026.”