El Salvador has purchased six more Bitcoins (BTC) to be included in its reserves, taking the total to 6,111 BTC. The acquisition, which was done on March 9, 2025, is in complete contrast to the ongoing pressure from the International Monetary Fund (IMF) on El Salvador to drop its policy of purchasing Bitcoin. The new purchase is worth approximately $493 million at the prevailing market price.
El Salvador’s Bitcoin Acquisition
National Bitcoin Office acknowledged the transaction via social media, announcing that the government purchased six BTC within one day, which is different from the government’s common one BTC per day. The enormous purchase is proof that El Salvador has vowed to comply with its Bitcoin policy in the face of negative reviews worldwide. El Salvador also bought enormous volumes even before, 12 BTC and 11 BTC during January and February, respectively.
IMF Position on Bitcoin
IMF never recommended the use of Bitcoin in El Salvador. The organization recently requested El Salvador to stop piling up BTC due to financial risk. El Salvador secured a $1.4 billion facility lending in December 2024 with attached conditions to reverse the legalization of Bitcoin and restrict public sector exposure to the cryptocurrency.
The IMF stepped in for the second time on March 3, calling for limits on public sector voluntary holding of BTC. The group also called for limits on public sector borrowing on Bitcoin. Such calls have been rejected by President Nayib Bukele, while he labeled IMF objections as “whining,” instead reaffirming the government’s determination to its Bitcoin policy.
Government’s Commitment to Bitcoin
President Bukele is not open to negotiations on Bitcoin. He said that the nation’s buying policy will not change regardless of external pressure. Bukele asserted that the government will continue to buy Bitcoin, citing reasons that past setbacks have not deterred them.
This latest purchase occurs amid a decline in Bitcoin’s price, which is trading just above $80,000. Nevertheless, the El Salvadoran government appears unfazed, maintaining that Bitcoin remains a crucial part of its economic agenda.
The larger the BTC holding of the nation, the stronger its influence will be in the global world of cryptocurrency. Fans and haters of adopting Bitcoin will all be watching.
