- El Salvador added 6 Bitcoin to its reserves, bringing the total to 6,106 BTC despite IMF restrictions on state crypto purchases.
- The IMF’s Julie Kozack confirmed ongoing talks with El Salvador but did not clarify how recent BTC buys align with agreements.
El Salvador has added 6 Bitcoin to its state reserves, according to a report published by the Bitcoin Office on the social media platform X. With this addition, the total holdings now stand at 6,106 BTC. This move extends a pattern of regular purchases, despite a 2023 agreement with the International Monetary Fund (IMF) that mandates halting such acquisitions.
This is in addition to the 1BTC per day we bought earlier today: https://t.co/vcy23KcrbX
— The Bitcoin Office (@bitcoinofficesv) March 10, 2025
The IMF has reiterated ongoing communication with Salvadoran authorities to monitor compliance with the economic program. Julie Kozack, the organization’s spokesperson, stated that the government committed to avoiding further accumulation of Bitcoin by public entities. “Authorities confirmed these purchases align with agreed terms,” Kozack said during a press briefing. However, she did not clarify how recent transactions comply with the requirement to limit state holdings.
“In particular, the program aims to address the risks associated with the Bitcoin project to protect consumers and investors, as well as to limit potential fiscal costs. To this end, recent legal reforms have made the acceptance of BTC voluntary and ensured that taxes can only be paid in U.S. dollars.”
Julie Kozack, IMF Spokesperson.
President Nayib Bukele has publicly defended the continuity of the strategy. In past remarks, he emphasized that his administration “will not yield to external pressures,” referencing earlier international criticism over El Salvador’s 2021 adoption of Bitcoin as legal tender. This stance conflicts with the written agreement his government signed with the IMF, which explicitly includes suspending cryptocurrency purchases.
The contradiction between actions and the agreement has raised questions
John Dennehy, founder of the Mi Primer Bitcoin project, proposed two theories. The first suggests the government may be transferring Bitcoin between state accounts, creating the appearance of new purchases without increasing total reserves. The second posits that private entities, such as the company Tether, could be donating Bitcoin to state reserves, bypassing the IMF agreement.
Without technical details from officials, speculation remains unresolved. Local sources indicate that announcements of ongoing purchases will persist to reinforce the image of commitment to Bitcoin. Yet, the lack of transparency has fueled skepticism among some cryptocurrency advocates, who question the government’s consistency.
