El Salvador is the first country in the world to adopt Bitcoin as a fiat currency, continuing to buy cryptocurrencies despite a $1.4 billion loan agreement with the International Monetary Fund (IMF), including provisions that hinder further accumulation.
The government’s fiscal wallet currently has 6,209 bitcoins (BTC) Since December 19, 2024, after receiving a total of 240 BTC since the IMF transaction was announced, according to Data from the Bitcoin Office in El Salvador.
December, El Salvador Arrival with the IMF Paying $1.4 billion in loans requires the government to abandon Bitcoin’s status as fiat currency and stop its BTC accumulation.
However, the country continues to buy one BTC every day, a strategy first announced by President Naibu Bukel in 2022.
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When asked about the purchase, Rodrigo Valdes, director of the IMF Western Hemisphere division, said the country still technically complies with technical regulations. “Salvador continues to abide by their commitment to the non-cash payments of Bitcoin throughout the finance sector,” Valdes said. statement At a press conference on April 26.
Others point to IMF Deal’s “Flexibility” The explanation is the key to El Salvador’s continued acquisition.
“The ‘flexible explanation’ of the IMF suggests that buying assets that may involve non-public sector entities or reclassified to maintain technical compliance,” Anndy Lian, author and intergovernmental blockchain consultant, told Cointelegraph, adding: “This alternative allows El Salvador to allow El Salvador to retain its Bitcoin-friendly image while retaining its critically approved IMF FULNDIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMFIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMDIND IMFIND IMFIND IMDIND IMDIND IMDIND IMDIND IMDIND IMDI
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Crypto remittances decline in 2025
Although El Salvador’s Bitcoin accumulation appears to be unaffected, cryptocurrency remittance payments have dropped sharply in 2025.
Cryptocurrency transfers to El Salvador wallets fell 44.5% in the same period last year, according to Data from the Central Reserve Bank shared by local media news media Dirio.
Cryptocurrency payments fell to $16 million in the first quarter of 2025, accounting for 0.52% of the total remittances received in the country, down $12.8 million from the $28.3 million received in the first quarter of 2024, when cryptocurrency payments accounted for 1.08% of the total remittances.
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