El Salvador, as the first country in the world to adopt Bitcoin as legal tender, continues to purchase this cryptocurrency despite signing a $1.4 billion loan agreement with the International Monetary Fund (IMF), which includes terms to prevent further accumulation of Bitcoin.
According to data from the El Salvador Bitcoin Office, the government treasury wallet currently holds 6,209 Bitcoins (BTC), with an additional 240 BTC acquired since the announcement of the IMF agreement on December 19, 2024.
Last December, El Salvador reached a $1.4 billion loan agreement with the IMF, requiring the government to revoke Bitcoin's status as legal tender and cease public accumulation of BTC.
Nevertheless, the country continues to implement a strategy of purchasing 1 BTC daily, a strategy introduced by President Nayib Bukele in 2022.
When asked about these purchases, Rodrigo Valdes, director of the IMF's Western Hemisphere Department, stated that the country is technically still compliant. Valdes said at a press conference on April 26, "El Salvador continues to adhere to its commitment not to accumulate Bitcoin in its overall fiscal sector."
Others have pointed out that the "flexible interpretation" of the IMF agreement is key to El Salvador's ongoing acquisitions. Author and intergovernmental blockchain advisor Anndy Lian told Cointelegraph, "The IMF's 'flexible interpretation' suggests that purchases may involve non-public sector entities or reclassified assets, thus maintaining technical compliance." He added that this "alternative approach allows El Salvador to retain its Bitcoin-friendly image while securing crucial IMF funding."
While El Salvador's Bitcoin accumulation appears unaffected, cryptocurrency remittance payments in the country saw a significant decline in 2025.
According to data from the Central Reserve Bank shared by local media Diario, cryptocurrency transfers received by El Salvador wallets in the first quarter of this year dropped by 44.5% compared to the same period last year.
In the first quarter of 2025, cryptocurrency remittance payments fell to $16 million, accounting for only 0.52% of the total remittances received by the country, a decrease of $12.8 million from $28.3 million in the first quarter of 2024, when cryptocurrency payments made up 1.08% of total remittances.
Related: VanEck: Bitcoin (BTC) purchasing companies face risks that must be considered for exit
Original article: “El Salvador has purchased 240 Bitcoins (BTC) since reaching an agreement with the IMF not to accumulate”
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