- El Salvador’s Bitcoin reserves reached 6,313.18 BTC after a 21 BTC buy, valued at nearly $702 million in total.
- The purchase marks Bitcoin Law’s fourth anniversary and continues the country’s one-Bitcoin-a-day accumulation strategy.
- Despite IMF loan conditions to halt state level buys, El Salvador has kept acquiring Bitcoin since 2021.
El Salvador has added 21 Bitcoin to its national reserves, marking the fourth anniversary of Bitcoin’s adoption as legal tender. President Nayib Bukele confirmed the purchase on Sunday through the country’s official Bitcoin tracker, describing it as a symbolic nod to the cryptocurrency’s 21 million supply cap.
The latest acquisition, valued at about $2.3 million, pushed the nation’s total holdings to 6,313.18 BTC, worth nearly $702 million at current market prices. The move comes as the country maintains its one-Bitcoin-per-day strategy while balancing conditions tied to its ongoing International Monetary Fund agreement.
Symbolic Purchase Raises Total Reserves
The additional 21 BTC brings El Salvador weekly accumulation to 28 BTC, continuing its reserve building approach. Since March 2023, the country has consistently purchased one Bitcoin daily, indicating a steady buying pattern.
Government data and blockchain records confirm the updated balance, which places El Salvador among the largest sovereign holders of the asset. The symbolic purchase coincided with the September 7 anniversary of the Bitcoin Law’s enactment.
The law, originally passed in June 2021, established Bitcoin alongside the U.S. dollar as legal tender. The celebration showed the government’s ongoing commitment, even as international lenders watch its compliance with financial agreements.
Tension with IMF Loan Conditions
The IMF has repeatedly urged El Salvador to halt state-level Bitcoin purchases. Earlier this year, the country secured a $1.4 billion funding deal requiring stricter restrictions.
As part of the agreement, lawmakers revised the Bitcoin Law to make usage voluntary instead of mandatory. The reforms also called for the closure of the Fidebitcoin trust and the government’s withdrawal from the Chivo wallet program.
However, despite these conditions, El Salvador has continued acquiring Bitcoin. According to IMF reports, the nation’s Bitcoin purchases since 2021 total around $300 million.
The report also noted that holdings now reflect more than $400 million in unrealized gains, though transparency limitations prevent full independent assessment.
Security Adjustments and Upcoming Initiatives
Last month, El Salvador’s Bitcoin Office redistributed its holdings across multiple addresses, each capped at about 500 BTC. Officials cited potential quantum computing threats as justification for the reallocation and launched a public dashboard to track balances.
Meanwhile, the country has expanded Bitcoin’s role beyond treasury management. Education programs now include Bitcoin studies for all students aged seven and older, making El Salvador the first nation to implement such a curriculum.
Additionally, preparations are underway for a state-backed cryptocurrency conference, BITCOIN HISTÓRICO, scheduled for November.
