- El Salvador’s Bitcoin holdings have reached 6,093.18 BTC, now worth over $523 million, with continued acquisitions over the past 30 days.
- Businesses are no longer required to accept Bitcoin, and residents cannot use it for tax payments, though it remains legal tender.
- Despite an IMF agreement, El Salvador continues to acquire Bitcoin daily, maintaining its national Bitcoin reserve strategy without interruption.
El Salvador has continued to expand its Bitcoin reserves, adding more BTC to its national holdings. The National Bitcoin Office of El Salvador made public its purchase of one Bitcoin on March 1st, which increased their Bitcoin portfolio to 6,093.18 Bitcoins amounting to more than $523 million. For the last seven days El Salvador acquired 12 Bitcoin worth more than $1 million and throughout the previous thirty days it purchased 44 Bitcoin valued at $3.75 million.
Bitcoin Stacking Strategy Remains
The National Bitcoin Office highlighted that the country remains committed to accumulating Bitcoin as part of its long-term strategy. President Nayib Bukele’s administration has consistently acquired Bitcoin since late 2022 using a dollar-cost averaging approach. On February 24th, the government added 7 BTC to its reserves, reinforcing its commitment to expanding the Strategic Bitcoin Reserve (SBR). Officials emphasized that the Bitcoin stacking strategy will continue as planned.
El Salvador recently adjusted its Bitcoin policies, providing more flexibility in its adoption. The country’s Legislative Assembly passed modifications to its Bitcoin law with a 55-2 vote at the end of January. The amendments remove the term “currency” while retaining Bitcoin as legal tender. These changes will take effect on May 1st, 90 days after being published in the official government newspaper.
Businesses No Longer Obliged to Accept Bitcoin
Following the policy update, businesses in El Salvador are no longer required to accept Bitcoin as payment. However, the digital asset remains legal tender in the country. Additionally, residents cannot use Bitcoin to pay taxes or state-related bills. Meanwhile, educational initiatives continue to focus on Bitcoin literacy, with students learning about private and public key generation, Bitcoin transaction data, and ColdCard simulation.
The IMF Loan Agreement has not prevented El Salvador from increasing its Bitcoin assets. The International Monetary Fund loan agreement requires El Salvador to reduce its Bitcoin efforts, but the country maintains its Bitcoin buying activities. The pact which Salvador signed during December 2024 established requirements for Bitcoin usage to remain optional while government Crypto oversight became restricted and all taxation needed to occur through U.S. dollars.
Under the terms of IMF loan approval, Chivo Wallet must decrease its government control. The Salvadoran government made an agreement with the IMF that contains provisions to dwindle its Chivo Wallet oversight over time. Since early 2025, the ‘one Bitcoin per day’ acquisition strategy operates without interruption to obtain additional Bitcoin. President Bukele alongside his government continues its support for Bitcoin even when regulatory developments occur.
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