El Salvador’s President Nayib Bukele recently announced a significant milestone for the nation, confirming the acquisition of 21 Bitcoin (BTC) to commemorate the fourth anniversary of the country’s pioneering Bitcoin Law. Since March 2024, the Central American nation has been on a daily purchasing spree, securing 1 BTC per day, according to the latest data from the Bitcoin Office. With this recent purchase, El Salvador’s total Bitcoin holdings have reached an impressive 6,313.18 BTC, which holds a market value exceeding $701 million. Notably, the country has acquired 28 BTC just in the past week alone.
This latest move underscores El Salvador’s unwavering commitment to its investment strategy in the cryptocurrency sector, even amid unpredictable market fluctuations. The nation made a bold decision to recognize Bitcoin as legal tender back in September 2021, a move that has drawn both attention and criticism on the global stage. To mark this anniversary, El Salvador’s Bitcoin Office has aptly dubbed the day “Bitcoin Day.”
However, this acquisition raises concerns regarding compliance with International Monetary Fund (IMF) guidelines. A recent report indicated that following a $1.4 billion loan agreement with the IMF in December 2024, El Salvador was instructed to cease any new voluntary Bitcoin purchases by public entities. Additionally, the agreement necessitates the government’s exit from the Chivo wallet program, which has been central to the country’s Bitcoin transactions. The IMF has been vocal in its criticism of El Salvador’s shift toward Bitcoin adoption, warning in 2021 that it could lead to numerous macroeconomic, financial, and legal challenges.
Notwithstanding these restrictions, El Salvador has persisted with its strategy of accumulating Bitcoin at a rate of 1 BTC per day. Recently, the country also took a proactive step to enhance the security of its Bitcoin treasury by splitting its holdings across 14 separate addresses, a move aimed at mitigating potential threats posed by advancements in quantum computing. Previously, El Salvador’s BTC reserves were housed in a single wallet address.
On “Bitcoin Day,” the government’s Bitcoin agency reflected on its notable achievements over the past four years, including the ambitious rebranding of El Salvador as “Bitcoin Country.” The Bitcoin Office publicly celebrated the day, stating, “Guided by EXCELLENCE ONLY, our results prove that builders can just build extraordinary things.” As of 2025, around 80,000 public servants have now received Bitcoin certification, demonstrating the government’s commitment to integrating cryptocurrency into the workforce. Additionally, a law has been passed to create a regulatory framework for Bitcoin banks and capital markets, signaling further institutionalization of cryptocurrency within the nation.
