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El Salvador continues Bitcoin acquisition

El Salvador continues Bitcoin acquisition despite IMF pressure and legal tender repeal

https://icn.live/wp-content/uploads/2025/05/El-bitcoin.mp3
  • by ICN.live
Fatima Al-Nouri

El Salvador continues Bitcoin acquisition even after repealing its Bitcoin legal tender law and facing IMF warnings.

The Central American nation has acquired seven more BTC in the past week, boosting its total holdings to 6,173 BTC. This crypto stash now surpasses $637 million in value.

The country’s Bitcoin Office is maintaining its steady pace of accumulation. This continues months after El Salvador signed a $1.4 billion loan agreement with the International Monetary Fund (IMF). The deal included strict conditions, such as stopping public spending on Bitcoin. However, President Nayib Bukele has stood firm in defiance of those terms.

According to Bukele, Bitcoin accumulation is a strategic move. He claims it’s vital for the country’s long-term economic freedom. His refusal to halt BTC buys has caught the attention of crypto industry leaders. They now consider El Salvador’s bold actions a model for other nations.

Defiance Against IMF Adds Fuel to the Bitcoin Fire

When El Salvador passed the Bitcoin legal tender law in 2021, it made global headlines. But in January 2025, lawmakers repealed that law following the IMF’s demands. Despite the legislative shift, the country’s BTC acquisitions remain unchanged. El Salvador is still one of the few governments actively buying Bitcoin.

The IMF asked El Salvador again in March 2025 to stop Bitcoin purchases. But Bukele publicly rejected this demand. In a post on X (formerly Twitter), he vowed to continue: “It didn’t stop when the world ostracized us. It won’t stop now, and it won’t stop in the future.”

That declaration has reinforced his commitment to financial sovereignty through crypto. Bukele’s stance echoes through the global Bitcoin community. Many view him as a pioneer battling centralized control from global institutions.

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El Salvador continues Bitcoin acquisition as national strategy

This accumulation strategy may have long-term implications. El Salvador is laying down a framework for Bitcoin treasury reserves. Its model could inspire other small nations to adopt Bitcoin. While the IMF frowns on the move, Bitcoin advocates hail it as forward-thinking.

Critics argue that using public funds for volatile assets is risky. However, supporters believe that Bitcoin’s deflationary nature and long-term potential outweigh the short-term risks. As of now, El Salvador isn’t showing signs of changing course.

Bukele’s government is also taking steps to privatize Chivo Wallet, another IMF condition. However, critics argue that fulfilling this demand does little to appease the IMF when Bitcoin buying continues.

El Salvador is testing how much financial freedom a small country can exert. If Bitcoin prices continue to rise, Bukele’s bet could pay off spectacularly. If not, the nation may face economic strain. Regardless, the world is watching El Salvador’s Bitcoin experiment very closely.

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Why is El Salvador still buying Bitcoin despite the IMF deal?

El Salvador continues Bitcoin acquisition as a long-term national strategy, prioritizing economic independence and digital asset adoption. President Bukele believes Bitcoin will provide financial freedom and protect the country from inflation and external pressures. Even though the IMF demanded a halt to Bitcoin purchases as a condition of a $1.4 billion loan agreement, El Salvador’s government considers Bitcoin a foundational asset for the nation’s financial future. Bukele has consistently rejected IMF warnings and reiterated his stance through public posts, claiming that external pressure won’t influence their sovereign decisions.

What does the IMF want El Salvador to do with Bitcoin?

The IMF’s position is clear: they want El Salvador to stop using public funds to buy Bitcoin, repeal its Bitcoin legal tender law, and privatize state crypto infrastructure like the Chivo Wallet. These steps are meant to reduce the perceived financial risks tied to Bitcoin’s price volatility. While El Salvador repealed the legal tender law and is working to privatize the wallet, its continued BTC acquisitions go directly against the IMF’s conditions. This has caused ongoing tension between the IMF and the Bukele administration.

How much Bitcoin does El Salvador currently hold?

As of now, El Salvador holds 6,173 BTC, valued at more than $637 million. The country continues to make regular purchases, even buying seven BTC in the past week alone. Despite economic concerns and external scrutiny, the national Bitcoin Office reports steady accumulation. El Salvador is one of the few countries to buy Bitcoin through open market operations, and its BTC treasury is considered a potential blueprint for other nations that may follow suit.

Could other countries adopt a similar Bitcoin strategy?

Yes, El Salvador’s ongoing experiment could inspire other nations, especially those with volatile economies or weak currencies, to consider Bitcoin as a strategic reserve asset. By demonstrating long-term commitment despite international pushback, El Salvador is presenting a case study on financial independence through decentralized assets. If their Bitcoin holdings appreciate significantly, this strategy might be seen as visionary. However, others will watch closely to see if the benefits outweigh the risks in the coming years.

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