El Salvador has continued its Bitcoin acquisition strategy, purchasing over 13 BTC since March 1, bringing its total holdings to approximately 6,105 BTC, valued at over $527 million.
This accumulation persists despite a December 2024 agreement with the International Monetary Fund (IMF) for a $1.4 billion loan, which included commitments to reduce public sector involvement with Bitcoin and revoke its status as legal tender.
In January 2025, El Salvador’s Congress amended Bitcoin laws to align with IMF requirements, repealing the previous legislation in a 55-2 vote. Nevertheless, the government continued its daily Bitcoin purchases, including a notable acquisition of 5 BTC on March 3.
President Nayib Bukele has dismissed IMF pressures to halt Bitcoin accumulation, stating that the country’s strategy remains unchanged. This steadfast approach has attracted major crypto firms to El Salvador, with Bitfinex Derivatives and Tether relocating their operations to the nation in early 2025.
