El Salvador keeps adding Bitcoin to its treasury, even though a deal with the IMF warned against it.
- El Salvador bought 240 BTC since signing a $1.4B IMF loan deal.
- The government now holds over 6,200 Bitcoin.
- Crypto remittance payments to El Salvador have dropped by 44.5% in 2025.
El Salvador’s Bitcoin Strategy Continues
El Salvador has not stopped purchasing Bitcoin after signing a $1.4 billion loan deal with the International Monetary Fund (IMF) in December 2024. The country has bought 240 BTC since December 19, even though the agreement asked them to stop adding Bitcoin to public funds.
The total Bitcoin held by the country now stands at 6,209 BTC, according to the El Salvador Bitcoin Office. President Nayib Bukele started the “one Bitcoin per day” plan in 2022 and has kept it going.
IMF Responds to Bitcoin Purchases
Rodrigo Valdes, IMF director for the Western Hemisphere, said El Salvador is still following the loan terms. He explained that the government is not using public funds from the main fiscal sector to buy Bitcoin. This means El Salvador is still “technically” following the agreement.
Experts suggest the country may be buying Bitcoin using other entities outside the fiscal sector. This could include state-run wallets or companies. This method keeps El Salvador’s Bitcoin image strong while still getting IMF support.
Crypto Remittances Are Falling
While Bitcoin buying continues, crypto remittance payments to El Salvador have dropped. In the first quarter of 2025, crypto transfers to the country fell by 44.5% compared to the same time in 2024.
According to the Central Reserve Bank, people sent only $16 million in crypto remittances in Q1 2025. That’s down from $28.3 million the year before. Crypto payments now make up just 0.52% of all remittances, compared to 1.08% last year. This shows that fewer people are using cryptocurrency to send money home.
What This Means
El Salvador is balancing its Bitcoin strategy with international finance rules. The IMF deal does not fully prevent crypto activity, as long as it is done through other means. Still, falling crypto remittances show that public use of these tools may be slowing down.
Source: cointelegraph.com
