El Salvador Increases Bitcoin Holdings Amid Policy Adjustments for IMF Loan

El Salvador has recently bolstered its Bitcoin reserves by acquiring an additional 50 BTC over the past month, bringing its total holdings to approximately 6,055 BTC, valued at over $606 million.

This move underscores the nation’s ongoing commitment to cryptocurrency, even as it implements policy changes to comply with a $1.4 billion loan agreement with the International Monetary Fund (IMF). In December 2024, El Salvador agreed to make Bitcoin acceptance optional for businesses, discontinue its use for tax payments, and phase out the state-backed Chivo wallet.

Despite these adjustments, the government remains steadfast in its Bitcoin strategy. Stacy Herbert, director of the National Bitcoin Office, indicated plans for accelerated Bitcoin acquisitions and initiatives to enhance cryptocurrency education within the public sector. Herbert says,

El Salvador will continue buying bitcoin (at possibly an accelerated pace AND at a discounted price) for its Strategic Bitcoin Reserve.

El Salvador’s pro-Bitcoin stance has attracted significant interest from major crypto firms. Stablecoin issuer Tether recently relocated its headquarters to the country, citing its crypto-friendly regulatory environment under President Nayib Bukele. He has also encouraged other companies to move operations to El Salvador.

While the government has adjusted its Bitcoin policies to meet IMF conditions, it continues to strengthen its position in the global crypto space, aiming to attract industry players seeking a favorable regulatory climate.