El Salvador continued to buy bitcoin in defiance of the IMF.

By Evtuoil | Cryptographic News | 3 May 2025


El Salvador continues to buy bitcoins (BTC) even after concluding a loan agreement with the International Monetary Fund (IMF), which required it to stop accumulating cryptocurrencies. The Minister of Economy of El Salvador, Maria Luisa Hayem, confirmed this in an interview with Bloomberg.

"President Bukele intends to continue accumulating assets... Bitcoin remains an important project. We are seeing an accumulation of assets from both the government and the private sector," she said.

The country, where the official currency is the US dollar, in 2021, under the leadership of President Nayib Bukele, also adopted bitcoin as an official means of payment and began accumulating it — first in batches, and from the end of 2022, 1 BTC per day. But El Salvador's bet on cryptocurrency has led to a decrease in the country's credit rating.

In March 2025, it became known that in exchange for receiving $1.4 billion in financing from the IMF, El Salvador made a number of commitments, including reducing purchases of the leading cryptocurrency to reduce "bitcoin risks." The deal with the IMF, among other conditions, implied that the government would abandon the voluntary accumulation of cryptocurrencies, including the purchase and mining of bitcoins.

Nevertheless, the authorities continue to buy about 1 bitcoin a day. The National Bitcoin Office of El Salvador (ONBTC) regularly publishes information on cryptocurrency purchases.

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(Data on bitcoin purchases by El Salvador. Source: National Bitcoin Office of El Salvador in X)

According to ONBTC's latest bitcoin purchase report, on April 29, El Salvador had 6,162 BTC (about $580 million) on its balance sheet. Over the past 30 days, the wallet has been replenished with 31 coins.

 

 

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Evtuoil
Evtuoil

Writer, poet, philosopher. I love our WORLD and nature. I'm interested in cryptocurrency.


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