El Salvador has purchased an additional 5 Bitcoin worth $1.5 million after markets tanked on March 3 from Trump’s economic maneuvers.
Following El Salvador’s purchase, Japan-based Metaplanet, mimicking Michael Saylor’s Strategy, acquired 156 Bitcoins worth $13.4 million.
Both acquisitions come as BlackRock advises a 1-2% Bitcoin holding for institutions as their $IBIT Bitcoin ETF remains the most successful in market history.
El Salvador buys more BTC despite IMF $1.4 billion loan restrictions
Since Trump’s tariffs on Canada, Mexico and China have shaken world markets, Bitcoin has fallen to its previous lows of $83k.
After pricing in Trump’s US Crypto Reserve announcement, El Salvador swooped in and acquired $1.5 million worth of Bitcoin.
In February, the IMF granted the nation a $1.4 billion loan which also included restrictions on how El Salvador managed its crypto investments, requiring them to limit their purchases of Bitcoin.
The country has since made Bitcoin acceptance voluntary, but purchasing has not stopped despite the underlying beliefs of the IMF.
For them, the loan was given on conditions that it be used to invest in public services while allowing President Nayib Bukele to pause risky investments.
In total, El Salvador holds approximately 6,100 Bitcoin worth over $500 million at the time of writing while Bitcoin hovers over $81k per token.
Japan-based Metaplanet acquires 156 Bitcoin worth millions
Metaplanet, one of Japan’s leading companies pushing crypto and Bitcoin adoption in the region, also acquired more Bitcoin.
For Metaplanet, a purchase of 156 Bitcoins was made after Bitcoin’s volatile performance on March 3, bringing Metaplanet’s total holdings to 2,391, worth over $200 million.
The company, now part of Morgan Stanley’s MSCI Japan Index side by side with McDonald’s of Japan and Tokyo Electric, wants to acquire 10k BTC.
As announced earlier this year, Metaplanet’s goal is to hold 10,000 BTC, worth around $960 million by the end of 2025 and 21,000 BTC by the end of 2026.
For Metaplanet, the company wants to introduce cryptocurrencies as a legitimate financial investment asset to the region, which has been strict on digital asset acquisition compared to neighbors such as Hong Kong.
Recently, BlackRock has advised institutional investors that a 1-2% allocation of Bitcoin can be made for financial portfolios as Bloomberg reminisced on the success of $IBIT.
Institutions are buying Bitcoin en masse despite volatility and macroeconomic trends. Looking at Bitcoin from afar, the token may be set for higher prices in the near future as it tackles short-term economic trends.
