El Salvador has announced the purchase of another bitcoin, which takes the total in the country’s strategic reserve to above 6,102 BTC holdings.
This was disclosed by the country’s National Bitcoin Office posted on X (formerly Twitter).
Part of the post reads,
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“El Salvador just added another 1 BTC to our strategic reserve! Can’t stop, won’t stop stacking.
Total SBR Holdings: 6,102.18 BTC
Total added today: +1 BTC
Minimum total to add tomorrow: +1 BTC”.
Reacting to the post, El Salvador’s President Nayib Bukele noted that despite global skepticism, political pressure, and the abandonment of many so-called “bitcoiners,” El Salvador remains steadfast in its commitment to Bitcoin, without plans to stop acquiring the crypto asset.
Part of his post reads,
“This all stops in April.” “This all stops in June.” “This all stops in December.” No, it’s not stopping. 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. Proof of work > proof of whining”.
For President Bukele and his government, the continuous purchase of Bitcoin is not just an experiment, but a revolution. Their stance is clear, proof of work prevails over proof of whining.
El Salvador Goes Against IMF Order of Bitcoin Acquisition
El Salvador purchase of more Bitcoin to its strategic reserves, comes against the International Monetary Fund (IMF) requests under its $1.4 billion deal with the Latin American country, aiming to restrict BTC purchases by the public sector.
It is understood that the IMF had added already contained strict limitations on government Bitcoin activities, while allowing retention of existing holdings.
In line with this, Nigel Clarke, deputy managing director and acting chair of the IMF board, wrote in a statement.
“Going forward, program commitments will confine government engagement in Bitcoin-related economic activities, as well as government transactions in and purchases of Bitcoin”.
The agreement, detailed in a March 2025 IMF Country report published, imposes three key crypto-specific requirements.
First, a “continuous quantitative performance criteria” prohibits any new Bitcoin acquisitions by public sector entities, maintaining a “ceiling of o” throughout the program period.
Secondly, the new arrangements also mandates liquidation of the Fidebitcoin trust fund by July 2025 and termination of government participation in the Chivo wallet system.
The third key requirement is the publication of all government Bitcoin wallet addresses, segregation of Chivo user funds, and audited financial statements for crypto-related entities.
In his own stance, Méndez Bertolo, the fund’s executive director for El Salvador said on Feb 26 that the IMF extended fund facility for El Salvador aims to provide several improvements in governance, transparency, and resilience to boost confidence and the country’s growth potential.
He pointed out that the funding deal will minimize Bitcoin-related risks saying,
“The authorities enacted amendments to the Bitcoin Law that clarify the legal nature of Bitcoin and remove from the law the essential features of legal tender. Acceptance of Bitcoin will be voluntary, tax payments will be made in US dollars, and the role of the public sector in the Bitcoin project will be confined.” he added
The director also mentioned that the IMF program is expected to attract substantial additional financial support from international organizations such as the World Bank, the Inter-American Development Bank, and other regional development banks.
Impact of El Salvador’s Bitcoin Adoption
In September 2021, with the entry into force of the Bitcoin Law, El Salvador adopted Bitcoin as currency with legal tender, alongside the US dollar, and started developing the infrastructure to facilitate its use by Salvadorans.
The Bitcoin project was intended to improve financial system access for unbanked individuals and businesses operating primarily in the informal economy, as well to expedite transactions and make remittances easier, faster, and cheaper. In an effort to launch the project, the government provided Salvadorans an initial allowance equivalent to US$30 in Bitcoin via the public e-wallet Chivo.
Before Bitcoin adoption, over 70% of El Salvador’s population lacked access to traditional banking. The introduction of Chivo Wallet, the government-backed Bitcoin app, provided an opportunity for Salvadorans to store, send, and receive money digitally, fostering financial participation.
Notably, Bitcoin adoption has turned El Salvador into a hub for crypto enthusiasts and investors, boosting tourism by over 30% in 2022. The government has also attracted crypto-related businesses and foreign investments, positioning the country as a leader in blockchain technology.
The Future of Bitcoin in El Salvador
El Salvador continues to double down on its Bitcoin strategy, with plans for a Bitcoin City powered by volcano energy and the issuance of Bitcoin-backed bonds. However, the long-term success depends on market recovery, improved infrastructure, and wider adoption among citizens and businesses.
While the experiment has had bold ambitions, its real economic impact remains uncertain, making El Salvador a case study for future Bitcoin-based economies.