El Salvador buys 7 Bitcoin in a week

El Salvador has continued to acquire Bitcoin (CRYPTO:BTC) for its national reserve, purchasing seven BTC in the past week despite an ongoing loan agreement with the International Monetary Fund (IMF) that restricts such purchases.

According to data from the El Salvador Bitcoin Office, the country’s total Bitcoin holdings now stand at 6,173 BTC, valued at over $637 million.

The government has maintained a steady pace of Bitcoin accumulation months after signing the IMF deal, showing no indication of halting its purchases.

El Salvador remains one of the few countries actively buying Bitcoin in open market operations, with its national Bitcoin treasury strategy viewed by some industry observers as a potential model for other nations considering similar reserves.

In December 2024, El Salvador signed a $1.4 billion loan agreement with the IMF, which included conditions requiring the country to repeal its Bitcoin legal tender law and make Bitcoin payments voluntary.

The agreement also stipulated that El Salvador must stop using public funds to buy Bitcoin and privatise the Chivo Wallet, a government-backed payment app with limited adoption.

In January 2025, the country’s legislature repealed the Bitcoin legal tender law by a 55-2 vote, but this did not slow down Bitcoin purchases.

The IMF reiterated its request to halt Bitcoin acquisitions in March 2025, but President Nayib Bukele rejected the demand.

“No, it’s not stopping. If it didn’t stop when the world ostracised us and most ‘Bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future,” Bukele stated on March 4.

El Salvador’s continued Bitcoin purchases highlight the government’s commitment to its crypto strategy despite international financial pressures.

At the time of reporting, the Bitcoin (BTC) price was $103,903.