El Salvador has once again added to its Bitcoin treasury, this time purchasing 21 BTC on September 7 to mark the fourth anniversary of the Bitcoin Law. The symbolic buy reflects Bitcoin’s capped supply of 21 million coins and reaffirms the government’s commitment to its long-term crypto strategy.
President Nayib Bukele confirmed the purchase through the National Bitcoin Office, despite ongoing concerns from international lenders such as the International Monetary Fund (IMF). The move highlights the country’s willingness to stick to its Bitcoin adoption plan, even under external pressure.
With this latest acquisition, El Salvador’s Bitcoin holdings have reached 6,313.18 BTC, now valued at approximately $701 million. Since March 2024, the government has been steadily purchasing 1 BTC per day, building reserves regardless of market volatility.
The country’s accumulation places it among the largest state-level holders of Bitcoin. While critics question the risks associated with such a strategy, supporters argue that El Salvador’s consistent buying demonstrates confidence in Bitcoin’s long-term potential.
El Salvador made history in 2021 when it became the first country to adopt Bitcoin as legal tender, alongside the U.S. dollar. The initiative was introduced as a way to increase financial inclusion and lower remittance costs for citizens, many of whom depend on money sent home by relatives abroad.
At the time, the decision faced heavy criticism from global financial institutions and economists. Concerns were raised about the volatility of Bitcoin, its impact on fiscal stability, and the centralized nature of the implementation—despite Bitcoin’s decentralized ethos.
El Salvador’s continued Bitcoin buying has put it at odds with the IMF, which approved a $1.4 billion loan agreement in December 2024. Under the Extended Fund Facility, the government committed to halting voluntary Bitcoin accumulation by public entities.
The agreement also required amendments to the Bitcoin Law, making merchant acceptance of BTC optional rather than mandatory. Additionally, the government pledged to wind down the Fidebitcoin trust and phase out the Chivo wallet program, which had faced criticism for inefficiencies.
Despite these commitments, the government continues to accumulate Bitcoin. This raises questions about compliance with IMF loan terms, especially since future loan disbursements depend on periodic reviews through 2027.
Beyond accumulation, El Salvador has also taken steps to secure its Bitcoin holdings. In late August 2025, the National Bitcoin Office moved the country’s reserves from a single address to multiple wallets, each capped at 500 BTC. Officials cited quantum computing threats as the reason for the redistribution.
To reinforce transparency, the government published a public dashboard listing the new wallet addresses, allowing citizens and international observers to track the nation’s Bitcoin reserves in real time.
According to an IMF report released in March, El Salvador has spent roughly $300 million on Bitcoin purchases since 2021. At current market prices, this investment has generated more than $400 million in unrealized gains.
However, the IMF also noted that the country’s limited disclosure practices make it difficult to independently assess the true performance of its Bitcoin portfolio. While the government regularly shares figures, questions remain about overall transparency and risk management.
Despite criticism, El Salvador’s Bitcoin holdings remain one of the largest among sovereign states. While some countries are experimenting with Bitcoin mining or tokenized assets backed by commodities, El Salvador has positioned itself as the leader in direct Bitcoin accumulation.
This strategy has inspired both interest and skepticism across the globe. Some developing nations see El Salvador as a case study in digital financial inclusion, while others warn that tying national reserves to a volatile asset could create fiscal risks.
El Salvador’s symbolic purchase of 21 BTC on Bitcoin Day sends a clear message: the government remains committed to its crypto-first strategy. Yet, the balancing act between national policy and international financial obligations is becoming increasingly complex.
As IMF compliance reviews continue through 2027, El Salvador will likely face further scrutiny over its Bitcoin policies. For now, however, the government appears determined to continue “stacking sats” while reinforcing its reputation as the world’s first Bitcoin nation.
Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9
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