- El Salvador halts daily Bitcoin purchases amid a $1.4B IMF loan deal requiring scaled-back crypto initiatives and voluntary BTC acceptance.
- El Salvador holds 6,077 BTC worth $586M as an IMF agreement prompts policy shifts, balancing Bitcoin adoption with economic stability goals.
According to blockchain data, El Salvador has reportedly paused its daily Bitcoin acquisition strategy amid a $1.4 billion loan agreement with the International Monetary Fund (IMF). The halt comes as the country adjusts its Bitcoin policies to meet IMF requirements while continuing to hold over 6,000 BTC. Policy shifts include making Bitcoin acceptance voluntary for businesses and reducing state-driven crypto initiatives.
Bitcoin Purchases Pause Amid IMF Loan Agreement
El Salvador’s daily Bitcoin purchase strategy appears to have stopped, with the last recorded acquisition from the nation’s wallet occurring on February 17, according to on-chain data from Arkham Intelligence. This pause follows the country’s recent agreement with the IMF for a $1.4 billion loan under a 40-month Extended Fund Facility (EFF).
The deal, concluded after four years of negotiations, mandates revisions to El Salvador’s Bitcoin policies, including scaling back state-led initiatives and making Bitcoin acceptance voluntary for private businesses.
President Nayib Bukele, who launched the daily Bitcoin buying strategy in November 2022, has previously emphasized the country’s commitment to Bitcoin as a national asset. However, the new terms under the IMF agreement aim to balance El Salvador’s Bitcoin ambitions with fiscal stability. In line with these requirements, the country’s legislature approved amendments to its Bitcoin Law in January 2025.
Nation’s Holdings Surpass 6,000 BTC Amid Strategy Shift
As of now, El Salvador holds approximately 6,077 BTC, valued at around $586 million at current market prices. These holdings include both daily acquisitions and larger, occasional purchases. Notably, the country deviated from its daily strategy on several occasions. In December 2024, shortly after finalizing the IMF deal, El Salvador acquired $1 million worth of Bitcoin in a single transaction. Similarly, on February 4, 2025, the government purchased 11 BTC worth over $1 million.
In March 2024, Bukele transferred around 5,600 BTC—then valued at over $400 million—to a cold wallet dubbed “El Salvador’s first Bitcoin piggy bank.” This marked the first time the government publicly disclosed its Bitcoin wallet address, a shift from the previous practice of announcing purchases exclusively through Bukele’s social media channels.
Despite policy adjustments, El Salvador’s Bitcoin strategy remains intertwined with its broader financial plans. The IMF loan is expected to unlock further financial support, potentially exceeding $3.5 billion throughout the program’s duration.
Balancing Bitcoin Adoption With Economic Pressures
El Salvador’s Bitcoin policies have faced scrutiny, particularly concerning their impact on fiscal liquidity and financial stability. Under the IMF agreement, the government has relaxed mandates requiring businesses to accept Bitcoin, addressing concerns about forced adoption. According to ETHNews recent post, critics argue that these adjustments dilute Bitcoin’s transactional role, but data suggests sustained utility in specific areas.
Bitcoin now facilitates approximately 4% of El Salvador’s $7 billion annual remittance inflows, reportedly saving an estimated $400 million in transfer fees since 2021. However, the cryptocurrency accounts for less than 1% of daily consumer transactions, according to the country’s central bank.
El Salvador’s broader Bitcoin initiatives include ongoing discussions between MicroStrategy CEO Michael Saylor and President Nayib Bukele to refine the nation’s Bitcoin adoption policies. Talks focused on optimizing the legal tender framework, which has recognized Bitcoin as an official currency since September 2021. Saylor highlighted potential applications of Bitcoin’s proof-of-work protocol for public infrastructure, though no specific plans were disclosed.
Meanwhile, Bitcoin’s market has shown stability despite global macroeconomic pressures. The BTC/USD pair traded near $95,585 as of Monday, with investors monitoring potential price breakouts amid geopolitical tensions and shifting US economic policies.
