Key Notes
- The IMF emphasized that government-owned Bitcoin holdings must remain unchanged.
- Despite IMF conditions, El Salvador’s Bitcoin Office revealed the purchase of 30 BTC in the past month, bringing its reserves to 6,190.18 BTC.
- While adhering to the IMF performance criteria, El Salvador may explore non-governmental entities for Bitcoin acquisition.
El Salvador, the first country to make Bitcoin
BTC
$96 611
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2.1%
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$1.92 T
Vol. 24h:
$29.09 B
a legal tender, has successfully secured a $120 million payment from the International Monetary Fund (IMF), following the latest review of its $1.4 billion loan agreement in 2024.
Of course, the recent loan payment from the IMF comes with conditions wherein El Salvador will have to reduce its Bitcoin exposure. Furthermore, the global monetary body has demanded that the country needs to forego its association with the Chivo wallet by the end of July. In the official press release, IMF noted:
โOn Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchangedโ.
The $120 million payout by the IMF is part of the larger agreement of a $1.4 billion loan to El Salvador, on the condition that the Latin American country will cut down on its Bitcoin acquisition plan.
Earlier on March 3, the IMF reiterated its call for El Salvador to halt Bitcoin accumulation and avoid further Bitcoin-focused activities. However, President Nayib Bukele has affirmed his governmentโs intent to continue purchasing one Bitcoin daily, maintaining its Bitcoin treasury strategy despite the IMFโs recommendations.
El Salvador Continues Its Bitcoin Buying Spree
Following the IMFโs May 27 announcement, El Salvadorโs Bitcoin Office shared on X that the nation has resumed its Bitcoin purchases.
According to the official Bitcoin tracker, the Bitcoin Office has added 30 BTC over the past month, bringing the countryโs total Bitcoin reserves to 6,190.18 BTC.
On May 22, President Nayib Bukele revealed on X that El Salvadorโs Bitcoin treasury is currently sitting at an unrealized profit of $386 million, reflecting a 132% gain on its total Bitcoin investment.
They said, โDonโt take screenshots, take profitsโ ๐คท๐ปโโ๏ธ https://t.co/dEKP5Y4qzc pic.twitter.com/2lx8sPWBSJ
โ Nayib Bukele (@nayibbukele) May 22, 2025
Besides, El Salvador delegates also met the SEC last month to discuss different crypto initiatives.
In April, Rodrigo Valdes, director of the IMFโs Western Hemisphere Department, confirmed that El Salvador is adhering to the IMFโs performance criteria. Blockchain adviser Anndy Lian noted that the country might sustain technical compliance by acquiring Bitcoin through non-government entities
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
