El Salvador’s Bitcoin Holdings Surpass $700 Million
El Salvador’s total Bitcoin holdings have surpassed $700 million as the country celebrates the fourth anniversary of its landmark decision to adopt the cryptocurrency as legal tender. According to data from the country’s Bitcoin Office, the nation holds 6,313.18 BTC, after a 21 BTC purchase executed on what it calls Bitcoin Day.
A Symbolic Purchase
The 21 BTC acquisition deviates from the Bitcoin Office’s 1 Bitcoin a day policy that the country has adopted since its landmark Bitcoin Law was officially implemented. This recent purchase was a symbolic nod to Bitcoin’s 21 million supply cap and a reaffirmation of the government’s commitment to the cryptocurrency.
Four Years of Bitcoin Adoption
President Nayid Bukele proposed El Salvador’s Bitcoin law in 2021, which made the Latin American country the world’s first to adopt Bitcoin as a legal tender. This marked a historic moment for both the country and the cryptocurrency industry. However, the decision has been met with criticism from economists who have warned about the volatility and macroeconomic risks involved.
IMF Criticism and Conditions
One of the biggest critics of El Salvador’s Bitcoin move has been the International Monetary Fund (IMF). The global watchdog and lender has repeatedly warned that adopting such a volatile asset as legal tender could undermine financial stability, complicate monetary policy, and expose the country to various fiscal risks. In 2025, the IMF compelled El Salvador to scale back its Bitcoin ambitions as a condition for a $1.4 billion loan agreement.
Scaling Back Bitcoin Ambitions
To secure the deal, the government agreed to halt public Bitcoin purchases, repeal a clause that mandated merchants to accept Bitcoin, and shut down its Chivo wallet program. However, the country’s periodic BTC purchase came under scrutiny after an IMF review published in July, which claimed El Salvador had stopped accumulating new Bitcoin back in February after signing the IMF deal.
Promoting Bitcoin Agenda
Despite the criticism and conditions, El Salvador continues to actively promote its Bitcoin agenda on the public front. In a recent X post, the Bitcoin Office said roughly 80,000 public servants have now received Bitcoin certifications. The country is also rolling out public education initiatives focused on both Bitcoin and artificial intelligence.
Investment Banking Law
Last month, El Salvador’s National Assembly passed a new ‘Investment Banking Law’ which sets up the provisions for select investment banks to be able to operate as official Bitcoin service providers, issuers, and digital asset managers under the supervision of the Central Reserve Bank (BCR) and the Superintendency of the Financial System (SSF). This move is expected to further solidify the country’s position in the cryptocurrency market.
Global Interest in El Salvador’s Bitcoin Strategy
Countries like Pakistan and Bolivia have turned to El Salvador for guidance over their respective Bitcoin strategies. As the world watches El Salvador’s experiment with Bitcoin, the country remains committed to its vision of a cryptocurrency-driven economy. For the latest news and updates on Bitcoin and other cryptocurrencies, visit bitpulse.