El Salvador Keeps Buying Bitcoin Despite $1.4B IMF Agreement

El Salvador continues accumulating Bitcoin despite its $1.4 billion loan agreement with the IMF, which called for reduced crypto purchases.

Bitcoin Remains a Strategic Asset for El Salvador

El Salvador is continuing to purchase Bitcoin even after agreeing to limit crypto investments under a $1.4 billion deal with the International Monetary Fund. Economy Minister Maria Luisa Hayem confirmed in a Bloomberg interview that Bitcoin remains a strategic asset.

“There’s a commitment by President Bukele to keep accumulating Bitcoin. It remains a vital project — both for the government and the private sector,” Hayem stated.

According to Bitcoin Treasuries, the Central American country currently holds 6,162 BTC, worth over $580 million. However, El Salvador is not the largest sovereign holder — Bhutan, for instance, still holds 7,486 BTC, though it began offloading some in late 2024.

Implementation of Bitcoin Law Under Scrutiny

Despite strong government support for crypto, questions remain about how effectively El Salvador is enforcing its Bitcoin Law. A report by El Mundo revealed that nearly 90% of registered crypto firms are inactive.

Data from the Central Reserve Bank shows that only 20 of 181 registered crypto providers are currently operational. At least 22 inactive firms may have failed to meet legal standards under Article 4 of the Bitcoin Law Regulation.

These standards include anti-money laundering programs, asset management protocols, and robust cybersecurity measures — all required for compliance in the country’s crypto ecosystem.