El Salvador continues to defy the International Monetary Fund‘s demands, stacking over 13 BTC since March 1, 2025. The country’s Bitcoin holdings now exceed 6,105 BTC, worth approximately $527 million.
El Salvador boldly accumulates Bitcoin despite IMF warnings, growing its reserves to 6,105 BTC worth $527 million.
They’re not slowing down either—they grabbed 5 BTC in a single day on March 3, then returned to their steady daily accumulation strategy of 1 BTC.
This buying spree directly contradicts the $1.4 billion IMF loan agreement secured in December 2024. The deal explicitly prohibited voluntary accumulation of Bitcoin by the public sector and required El Salvador to rescind BTC’s legal tender status.
El Salvador supposedly amended its Bitcoin laws in January 2025 to comply. So much for that.
President Bukele remains unapologetic. He insists the Bitcoin purchases will continue regardless of international pressure, dismissing IMF concerns as mere “whining.” His exact words? “Proof of work beats proof of whining.” Classic Bukele.
Meanwhile, the country’s Bitcoin Office regularly confirms these acquisitions, providing updates on El Salvador’s growing crypto reserves. They’re tracking everything—total holdings, current value, strategic positioning. No secrets there.
The international community isn’t amused. The IMF has issued fresh requests to halt the Bitcoin accumulation, but El Salvador seems unfazed. In fact, they’re doubling down.
Crypto firms like Bitfinex Derivatives and Tether have relocated their headquarters to El Salvador, transforming the nation into a budding crypto hub.
Economically, the strategy makes some sense. It’s a hedge against inflation and reduces dependence on the US dollar. The country’s embrace of Bitcoin offers citizens financial freedom by eliminating reliance on traditional banking systems and third-party interference.
But transparency concerns remain. Bitcoiners are demanding clarity on how these purchases reconcile with the IMF prohibitions, and many are calling for honesty about whatever concessions were made in the deal. Bukele has been criticized for his dismissive attitude toward those in the crypto community seeking transparent information.
The stakes are high. El Salvador is balancing its dollar-based economy with Bitcoin integration while risking its standing with global financial institutions. The country’s latest update shows its total holdings have now reached precisely 6,111.18 BTC, representing a significant national investment.
Will their Bitcoin gambit pay off? Or will defying the IMF prove too costly? Only time will tell.
