Thomas Daniels
Despite constant pressure from the International Monetary Fund (IMF) to stop public sector investments in Bitcoin, El Salvador has continued to increase its holdings, amassing 13 BTC since March 1.
The country’s Bitcoin treasury currently has about 6,105 BTC, which is worth over $527 million at current market values, according to the El Salvador Bitcoin Office. The nation usually buys one Bitcoin per day at a constant pace. El Salvador, however, broke with this trend on March 3 and bought five Bitcoin in one transaction.
Despite the IMF Agreement, El Salvador’s Dedication to Bitcoin
El Salvador was granted a $1.4 billion loan deal by the IMF in December 2024, with conditions that required the government to remove Bitcoin’s legal money status and decrease its use by the public sector. In January 2025, El Salvador’s Congress repealed the previous version of its Bitcoin laws by a resounding 55-2 majority.
The government has persisted in obtaining Bitcoin in spite of these actions. In keeping with its methodical accumulation approach, El Salvador bought two Bitcoins in a single day on February 1. On March 3, the IMF strengthened its position, reiterating its call for El Salvador to stop buying Bitcoin and forbidding the issuance of debt or tokenized instruments linked to the cryptocurrency.
IMF Warnings Are Disregarded by Bukele, Crypto Firms Move
El Salvador will continue its Bitcoin accumulation plan, according to President Nayib Bukele, who rejected the IMF’s most recent requests. Bukele responded directly to the pressure from the IMF by saying:
“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.”
Because of its unwavering support for Bitcoin, El Salvador has become a desirable location for cryptocurrency businesses. Large companies in the sector have started moving their operations to the nation. Stablecoin issuer Tether confirmed its migration on January 13 after Bitfinex Derivatives announced its move from Seychelles to El Salvador on January 7.
Despite outside financial constraints, El Salvador is steadfast in its Bitcoin policy and has established itself as a crypto-friendly hub while the worldwide regulatory environment surrounding digital assets continues to change.
