El Salvador is persisting with its Bitcoin acquisition strategy, even after entering into a $1.4 billion loan agreement with the International Monetary Fund (IMF) in December 2024, which included commitments to limit public sector involvement with Bitcoin. According to blockchain data from the country’s National Bitcoin Office, El Salvador acquired 7 BTC, valued at over $650,000, in the seven days leading up to April 27, 2025 .
The IMF has acknowledged these purchases but maintains that El Salvador is complying with the agreement’s terms, which prohibit Bitcoin accumulation by the overall fiscal sector. Rodrigo Valdes, director of the IMF’s Western Hemisphere Department, stated that the country’s actions are within the agreed performance criteria, emphasizing that the program focuses more on structural reforms than on Bitcoin .
Analysts suggest that El Salvador may be navigating the agreement’s stipulations by conducting Bitcoin purchases through non-governmental entities or reclassified assets, thereby maintaining technical compliance while continuing to bolster its Bitcoin reserves. This approach allows the country to retain its Bitcoin-friendly image while securing critical IMF funding to address public debt and limited reserves .
President Nayib Bukele has been vocal about the country’s commitment to its Bitcoin strategy, asserting that acquisitions will continue despite external pressures. Following the IMF agreement, El Salvador amended its Bitcoin laws, removing its status as legal tender and making its acceptance voluntary, aligning with the loan’s conditions .
As of April 2025, El Salvador’s Bitcoin holdings exceed 6,100 BTC, valued at approximately $550 million. The government continues to purchase Bitcoin at a steady pace, often acquiring one BTC per day, reflecting its ongoing commitment to integrating cryptocurrency into its economic framework .
