El Salvador, first in the world adopting Bitcoin as legal currency, continues to buy the crypto despite the fact that a loan agreement worth $1.4 billion with the International Monetary Fund included provisions dissuading further accumulation.
The Government’s Treasury wallet holds currently 6,209 Bitcoin.BTC(after acquiring total of 240 BTC after Dec. 19,2024 was announced the IMF agreement, according El Salvador Bitcoin Office data
In December, El Salvador struck a deal with the IMF For a $1.4-billion loan, the government was required to remove Bitcoin from its status of legal tender as well as stop public BTC accumulation.
The government has, however, continued to purchase one BTC every day. This strategy was first announced in 2020 by Nayib Bukele, President of the Republic.
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Rodrigo Valdes of the Western Hemisphere Department at the IMF said that the country is technically in compliance. “El Salvador continues to comply with their commitment of non-accumulation of Bitcoin by the overall fiscal sector,” Valdes stated During a press conference on April 26,
Other people point out the IMF deal’s “flexible” El Salvador has continued to make acquisitions because of its understanding.
“The IMF’s ‘flexible interpretation’ suggests purchases may involve non-public sector entities or reclassified assets, maintaining technical compliance,” Anndy Lian is an author and blockchain advisor to the intergovernmental sector, she told Cointelegraph. “alternative approach allows El Salvador to retain its Bitcoin-friendly image while securing critical IMF funding.”
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The decline of crypto remittances in 2025
El Salvador’s Bitcoin accumulaton appears to be unaffected. However, cryptocurrencies remittances into the country dropped sharply by 2025.
The number of cryptocurrency transfers into Salvadoran wallets has fallen by 44.5% compared to the previous quarter. according Diario, an outlet of local media and news, shared the data provided by Central Reserve Bank.
The crypto-remittance payment fell to 16 million dollars in the 1st quarter of 2025. That’s a drop of $12,8 million from 28.3 million dollars in 2024.
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Source: cointelegraph.com
