Key Takeaways
- El Salvador acquired 13 BTC since March 1, totaling 6,105 BTC.
- IMF pressures El Salvador to stop Bitcoin purchases and issuance of Bitcoin-backed securities.
- Bukele dismisses IMF concerns, stating Bitcoin accumulation will continue.
El Salvador has acquired 13 Bitcoin since March 1, despite the International Monetary Fund (IMF) urging the government to stop public sector involvement with Bitcoin.
The country’s Bitcoin treasury now holds over 6,105 BTC, valued at more than $527 million.
Government’s purchasing strategy
The government, led by President Nayib Bukele, typically buys 1 BTC per day but purchased 5 BTC on March 3.
This accumulation persists even after El Salvador struck a $1.4 billion loan deal with the IMF in December 2024.
The agreement required the country to rescind Bitcoin’s legal tender status and reduce public sector involvement with the asset.
Legislative compliance & continued accumulation
In January 2025, El Salvador’s Congress amended its Bitcoin laws to comply with the IMF deal, passing the changes with a 55-2 vote.
However, the country continued accumulating BTC, including a purchase of 2 BTC on Feb. 1.
IMF’s continued pressure
On March 3, the IMF again pressured El Salvador to halt Bitcoin acquisitions, also prohibiting the issuance of debt or securities tied to Bitcoin.
In response, Bukele dismissed the IMF’s demands, stating:
If it didn’t stop when the world ostracized us and most ‘bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future.
Attracting major firms
El Salvador’s strong pro-Bitcoin stance has attracted major firms.
In January, Bitfinex Derivatives relocated to El Salvador from Seychelles, and stablecoin issuer Tether announced its move shortly after.
