Despite its loan agreement with the IMF, El Salvador continues to build its Bitcoin reserves. The Central American nation has acquired 13 BTC since March 1, 2025, bringing its total holdings to a whopping 6,111.18 BTC. Worth approximately $504 million at current market prices. Not too shabby for a small country that many financial experts predicted would collapse under its crypto experiment.
El Salvador defies IMF demands, aggressively adding to its Bitcoin stash despite financial “experts” predicting disaster for the crypto-loving nation.
The recent buying spree includes 5 BTC on March 3, another 5 on March 9, and 6 more on March 10. Apparently, the government really wanted that extra Bitcoin on the 10th. President Bukele has maintained his country’s daily buying strategy of acquiring 1 BTC every 24 hours, with occasional larger purchases when prices dip. This strategy represents Bukele’s unwavering commitment to Bitcoin integration despite external pressures. Market conditions? Irrelevant. The man has a plan.
This aggressive accumulation directly contradicts the $1.4 billion IMF loan agreement hammered out in December 2024. The deal explicitly prohibited “voluntary public sector Bitcoin accumulation” and even asked El Salvador to revoke BTC’s legal tender status. The IMF issued renewed demands on March 3 for the country to cease all Bitcoin purchases. The IMF, being the IMF, wanted to reduce what they call “financial risks.” Shocking.
Bukele’s response to these demands was predictably defiant. He dismissed the IMF’s concerns as mere “whining” and vowed the country’s accumulation strategy wouldn’t stop. The President seems committed to his vision, critics be damned.
El Salvador’s congress did make some concessions, amending Bitcoin laws in January with a 55-2 vote to ostensibly comply with IMF requirements. These changes are set to take effect April 30, 2025. But clearly, they haven’t slowed down the buying.
Meanwhile, the country continues positioning itself as a global crypto hub. Bitfinex Derivatives and Tether have relocated there, and Bitcoin City Airport construction is underway. The nation’s BTC holdings have grown considerably from around 5,700 at the start of 2025.
