Despite agreeing to a $1.4 billion loan from the International Monetary Fund (IMF) in December 2024, which included conditions to limit public sector involvement in Bitcoin-related activities, El Salvador has continued to increase its Bitcoin holdings. Since March 1, 2025, the country has acquired over 13 BTC, bringing its total reserves to more than 6,105 BTC, valued at over $527 million at current prices.
President Nayib Bukele remains steadfast in his commitment to Bitcoin, stating that the accumulation strategy will persist despite international pressures. He emphasized that the country's daily Bitcoin purchases, typically one BTC per day, will continue unabated.
The IMF agreement required El Salvador to make Bitcoin acceptance voluntary for private businesses and to reduce public sector engagement in Bitcoin-related activities. However, the government's continued acquisitions suggest a nuanced approach to these conditions. The IMF has acknowledged that the recent increase in Bitcoin holdings aligns with the agreed program conditionality, indicating a level of flexibility in the interpretation of the agreement.
El Salvador's unwavering stance on Bitcoin has attracted significant attention from the global crypto community. Major crypto firms, including Bitfinex Derivatives and Tether, have announced plans to relocate their operations to El Salvador, bolstering the country's position as a burgeoning hub for digital assets.
As Bitcoin continues to gain international legitimacy, El Salvador's persistent accumulation strategy underscores its commitment to integrating the cryptocurrency into its economic framework, potentially setting a precedent for other nations considering similar paths.
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