El Salvador stays on course with Bitcoin investments. | Credit: Camilo Freedman/NurPhoto via Getty Images.
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Key Takeaways
El Salvador now holds 6,111 BTC worth $507.88 million, with a majority of purchases in profit.
It has purchased 40 BTC in the past 30 days, notably higher than its “one BTC a day” pledge.
The nation has a deadline of July 2025 to cease purchasing Bitcoin with taxpayer funds.
El Salvador’s $1.4 billion deal with the International Monetary Fund (IMF) could be at risk as the country ramps up Bitcoin (BTC) purchases despite the lender’s directives to halt investments and scale back BTC-related policies and infrastructure.
Over the past 30 days, El Salvador has acquired more BTC than usual, suggesting a rush to accumulate before the IMF deal potentially curtails President Nayib Bukele’s crypto ambitions.
Bagging Bitcoin
El Salvador has acquired another 6 BTC, bringing its total holdings to just over 6,111 BTC, currently valued at $507.88 million.
The purchase comes after a brief, week-long pause in its Bitcoin buying strategy amid rising tensions with the IMF.
The country resumed its acquisitions with a 7 BTC purchase, seemingly making up for lost time.
El Salvador’s Bitcoin holdings. Source: Nayibtracker.
Since then, El Salvador has continued its daily Bitcoin purchases, adding 40 BTC to its treasury over the past 30 days—slightly above its usual “1 BTC a day” strategy.
However, growing pressure from the IMF may be pushing the country to accumulate as much BTC as possible before restrictions potentially take effect.
IMF Concerns
The development is significant as El Salvador is currently in the process of rolling back its Bitcoin policies, legislature, and infrastructure, such as the Chivo wallet, to appease the IMF as part of a $1.4 billion agreement.
Most crucially, the deal requires El Salvador to stop buying BTC with taxpayer funds by July 2025.
Now, with a deadline in place, the nation may be looking to increase the rate of said investments, especially as BTC’s value continues to slide below $85,000.
Furthermore, the IMF demands that it must liquidate the FideBitcoin Trust, the nation’s government-backed trust fund that facilitates the use of BTC alongside U.S. dollars through its Chivo wallet.
“Importantly, as per agreement with the IMF, we will no longer accumulate new Bitcoins in our portfolio.”
In defiance, President Bukele recently stated that the government will not stop acquiring BTC. The IMF is set to conduct reviews in March, June, July and finally, December 2025 to assess El Salvador’s compliance.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
