El Salvador bought 13 BTC in March despite IMF agreement

The Salvadoran government has added more than 13 bitcoins to its reserves since March 1, openly defying the conditions of the $1.4 billion loan granted by the International Monetary Fund. Despite international pressures, President Nayib Bukele claims that nothing will stop his country’s accumulation strategy.

A Bitcoin accumulation strategy that persists despite the pressures

The Salvadoran government has acquired 13 additional bitcoins since March 1, 2025, bringing its total reserves to over 6,105 BTC, equivalent to $527 million at current rates.

This accumulation has continued despite the strict conditions imposed by the International Monetary Fund as part of a $1.4 billion loan granted in December 2024. Typically, the country buys one bitcoin per day, but on March 3, it exceptionally acquired 5 BTC in a single day, demonstrating its determination to strengthen its position.

These acquisitions directly violate the IMF’s requirements, which had asked El Salvador to reduce public sector involvement in bitcoin and revoke its legal tender status.

Although the Salvadoran Congress amended certain laws in January 2025 to partially comply with the agreement, with a repeal voted by 55 to 2, the government has never ceased its daily accumulation strategy.

On March 3, faced with this resistance, the IMF issued a new warning, demanding not only the cessation of bitcoin purchases but also prohibiting the country from issuing debt or tokenized securities linked to cryptocurrency.

Bukele’s vision attracts major players in the crypto sector

President Nayib Bukele has firmly responded to the new demands from the IMF, describing these pressures as mere “whining” without consequence on his national strategy.

“If it didn’t stop when the world ostracized us and most bitcoiners abandoned us, it won’t stop now, and it won’t stop in the future,” he publicly declared, reaffirming his vision of a financially independent El Salvador.

This inflexible position fits into a broader strategy aimed at transforming the Salvadoran economy and reducing its dependence on the US dollar. Since 2021, the country has bet on bitcoin as a lever for economic transformation, using it as a store of value against inflation and as an attraction tool for international investors in the fintech sector.

El Salvador’s perseverance has already started to bear fruit in the global crypto ecosystem. Bitfinex Derivatives announced on January 7 that it was moving from Seychelles to El Salvador.

In this wake, Tether, the issuer of the USDT stablecoin, also announced on January 13 that it was relocating its headquarters to this Central American country, further enhancing El Salvador’s credibility as a global crypto hub.

Thus, El Salvador continues its bet on bitcoin, paradoxically using the IMF loan as an economic shield while pursuing its quest for financial sovereignty through cryptos.

Between institutional distrust and an alternative economic vision, Nayib Bukele’s country establishes itself as an unprecedented financial laboratory whose outcome could influence the future adoption of bitcoin by other nations.