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El Salvador has increased its Bitcoin reserves, adding another coin on Wednesday, which raises the nation’s total holdings to over 6,102 BTC. The National Bitcoin Office shared the update on X, reaffirming its commitment to continue purchasing more Bitcoin.
The office stated it “won’t stop stacking” digital assets, promising to acquire at least one more Bitcoin the following day.
El Salvador has just added another 1 BTC to our strategic reserve!
Can’t stop, won’t stop stackingTotal SBR Holdings: 6,102.18 BTC
Total added today: +1 BTC
Minimum total to add tomorrow: +1 BTC
Check it outpic.twitter.com/NvuzRIvREU
— The Bitcoin Office (@bitcoinofficesv) March 5, 2025
Total added today: +1 BTC
pic.twitter.com/NvuzRIvREUIMF Loan Agreement Forces El Salvador to Reduce Bitcoin Usage
The recent acquisition comes after the International Monetary Fund (IMF) approved a $1.4 billion, 40-month financial program for El Salvador.
As part of the agreement, Bitcoin’s role in the nation’s economy has been diminished. The cryptocurrency is no longer mandated for tax payments. Moreover, public acceptance is now voluntary—far from its intended role as a widely embraced legal tender when introduced in 2021.
A critical condition of the IMF agreement requires El Salvador to gradually eliminate government involvement in its state-supported Chivo Bitcoin wallet by July 2025.
The government is also barred from purchasing Bitcoin with public funds, effectively limiting further state-led accumulation of the asset. However, Bitcoin acquired through law enforcement actions, such as seizures and forfeitures, remains exempt from these restrictions.
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IMF Acknowledges El Salvador’s Bitcoin Acquisitions Stay Within Limits
Despite the IMF’s restrictions, the Salvadoran government has kept adding to its Bitcoin holdings. Since the IMF board approved the agreement last week, El Salvador has acquired an additional 12 BTC. The government’s current Bitcoin reserve is valued at approximately $550 million, based on market rates.
An IMF representative confirmed that El Salvador’s recent Bitcoin purchases are consistent with the agreed program conditions.
“We consulted with the (Salvadoran) authorities, and they have assured us that the recent increase in Bitcoin holdings in the Strategic Bitcoin Reserve Fund is in accordance with agreed program conditionality,” the spokesperson told Reuters.
IMF Loan Crucial for El Salvador Amid Bitcoin Policy Uncertainty
El Salvador’s Bitcoin adoption, led by President Nayib Bukele in 2021, has remained a divisive issue. The IMF has consistently expressed concerns regarding the cryptocurrency’s volatility and its potential to destabilize the country’s economy. The organization has also cautioned about legal and financial risks, including money laundering vulnerabilities and Bitcoin’s limited use in everyday transactions, which it labeled as “marginal.”
The stakes are high for El Salvador. The $1.4 billion IMF loan, approved in December 2024, is vital for the country’s economic stability and could unlock an additional $3.5 billion from institutions such as the World Bank and the Inter-American Development Bank.
With fiscal challenges and limited access to external financing, non-compliance with the IMF’s conditions could threaten this funding. The IMF will carry out its first compliance review in June 2025, meaning failure to adhere to the agreement could jeopardize future disbursements and broader financial assistance.
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