El Salvador has recently updated its cryptocurrency policy following an agreement with the International Monetary Fund (IMF) that imposes limits on the official use of Bitcoin. Under the IMF conditions formalized in December as part of a $1.4 billion loan package, the Salvadoran government agreed to several measures. These measures require that Bitcoin acceptance be voluntary for businesses, restrict the public sector’s involvement in crypto-related activities, and mandate that taxes be collected exclusively in US dollars. In addition, the government pledged to gradually reduce its involvement with the Chivo Wallet—a state-sponsored cryptocurrency payment application launched in 2021 to promote Bitcoin usage among the population.
Continued Bitcoin Acquisitions Amid IMF-Driven Crypto Reforms
Despite these new regulatory adjustments, President Nayib Bukele’s administration has continued to accumulate Bitcoin. In 2025 alone, El Salvador purchased a total of 52 Bitcoin, raising its overall holdings to more than 6,055 coins. At current market values, this accumulation is estimated to be nearly $600 million. While the government normally acquires one Bitcoin per day, on February 1 it purchased two coins, which underscores its ongoing commitment to the digital asset. The acquisition process follows a dollar-cost averaging strategy that the administration has been using since late 2022.
The government’s approach to Bitcoin is part of a broader initiative aimed at promoting financial inclusion. President Bukele has long described Bitcoin as a tool to serve the approximately 70% of Salvadorans without access to conventional banking services. Previously, the country required businesses to accept Bitcoin—a mandate that met with resistance from retailers concerned about the cryptocurrency’s volatility. Despite the IMF’s pressure to scale back its official use of Bitcoin, the Salvadoran government has indicated that it will continue to build its digital currency reserves.
Recent legal amendments, passed by lawmakers together with President Bukele, reflect El Salvador’s efforts to comply with the IMF conditions while preserving its crypto strategy. These changes illustrate how the country is revising its domestic policies in response to international financial agreements, even as it remains committed to a crypto-focused investment approach.
🇸🇻 El Salvador is still buying #Bitcoin adding 5 more to its reserves in the past day! pic.twitter.com/DMnMAoV4JO
— CryptoCurrency News (@CryptoBoomNews) February 2, 2025
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