El Salvador has obtained more than 13 BTC since March 1, despite IMF agreement
El Salvador has acquired 13 Bitcoin (BTC) since March 1, despite pressure from the International Monetary Fund (IMF) on the country’s public sector to stop accumulating the decentralized store of value asset.
The El Salvador Bitcoin Office reports that the country’s Bitcoin treasury now holds over 6,105 BTC, valued at more than $527 million at current prices.
Typically, the Central American country acquires BTC at a steady pace of 1 coin every 24 hours. However, on March 3, El Salvador purchased 5 BTC in a single day.
In December 2024, El Salvador reached a deal with the IMF for a $1.4 billion loan. As part of this agreement, the government agreed to no longer consider BTC as legal tender in the country and reduce public sector involvement with Bitcoin.
El Salvador Bitcoin holdings. Source: El Salvador Bitcoin Office
Related: How can Bukele still stack Bitcoin after IMF loan agreement?
El Salvador continues stacking despite IMF pressure
In January 2025, El Salvador’s Congress amended its Bitcoin laws to comply with the IMF loan agreement. Lawmakers repealed the previous version of the law with a 55-2 vote.
Despite the repeal, the government continued to accumulate Bitcoin, purchasing two BTC in a single day on Feb. 1 and continuing daily accumulation of the digital currency.
On March 3, the IMF issued a new request pressuring El Salvador to stop accumulating BTC and specified that the country could not issue debt or tokenized securities tied to Bitcoin.
President Nayib Bukele responded to the IMF pressure by stating that El Salvador will continue buying BTC, describing the IMF’s continued pressure as “whining.”
Source: Nayib Bukele
“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,” Bukele emphatically stated.
El Salvador’s unwavering pro-Bitcoin stance has led several major crypto firms to announce that they are relocating to the Central American country.
On Jan. 7, Bitfinex Derivatives announced its relocation from Seychelles to El Salvador. Stablecoin issuer Tether followed suit on Jan. 13 by announcing its move to El Salvador.
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