El Salvador President Nayib Bukele has confirmed a major new Bitcoin purchase to celebrate a historic milestone. The nation acquired 21 BTC to mark the fourth anniversary of adopting Bitcoin as legal tender, defiantly continuing its accumulation strategy despite pressure from the International Monetary Fund (IMF).
The Details of the Daily Accumulation
This purchase is part of a disciplined, long-term strategy that has become a hallmark of El Salvador’s approach.
- New Purchase:Â 21 BTC
- Total Holdings:Â 6,313.18 BTC
- Total Value: Over $701 million
- Recent Purchases:Â 28 BTC acquired in the last 7 days.
Most notably, the country has been consistently buying 1 Bitcoin per day since March 2024, demonstrating an unwavering commitment to its “Bitcoin Country” vision regardless of short-term market conditions.
A Direct Challenge to IMF Mandates
This latest purchase is particularly significant because it directly contradicts agreements with the International Monetary Fund (IMF).
- The IMF Deal: In December 2024, El Salvador secured a $1.4 billion loan from the IMF.
- The Condition: The agreement required the country to halt all voluntary Bitcoin purchases by public entities and to exit the Chivo wallet program.
- Defiant Action:Â Despite this, El Salvador has continued its daily Bitcoin purchases, prioritizing its national strategy over international lender mandates.
The IMF has been a long-time critic of the Bitcoin law, warning it would create “macroeconomic, financial and legal issues” back in 2021.
Celebrating “Bitcoin Day” and Key Milestones
The government’s Bitcoin Office has declared the anniversary “Bitcoin Day,” using the occasion to highlight key achievements:
- Public Education: 80,000 public servants have received Bitcoin certification.
- New Legislation: Passed laws enabling Bitcoin banks and a BTC capital markets framework.
- Enhanced Security: Split its massive Bitcoin treasury across 14 separate wallet addresses to mitigate potential quantum computing threats.
The Bottom Line
El Salvador’s latest purchase is more than just a celebration; it’s a powerful statement of sovereignty. By continuing to accumulate Bitcoin daily in defiance of IMF conditions, President Bukele is reinforcing his commitment to a long-term, Bitcoin-based economic strategy. For the global crypto community, El Salvador remains a fascinating real-world experiment in national Bitcoin adoption, proving that a country can “just build extraordinary things” outside the traditional financial system.
