24-2-2025 – El Salvador has apparently suspended its daily Bitcoin procurement initiative, with the most recent acquisition logged on 17th February, according to data from Arkham Intelligence. This development emerges in the wake of the nation’s freshly minted $1.4 billion loan arrangement with the International Monetary Fund.
The Central American nation’s innovative approach to cryptocurrency investment has yielded impressive results, with its current Bitcoin holdings exceeding 6,000 tokens, representing a substantial portfolio valued at approximately $586 million at present market rates. This impressive accumulation stems from President Nayib Bukele’s pioneering strategy, initiated in November 2022, of purchasing one Bitcoin daily.
In a watershed moment this March, Bukele orchestrated the transfer of the nation’s considerable Bitcoin holdings—approximately 5,600 tokens valued at over $400 million—to a secure cold storage facility, which he cleverly dubbed “El Salvador’s first Bitcoin piggy bank”. This manoeuvre marked an unprecedented level of transparency, as it represented the first public revelation of the nation’s Bitcoin wallet address.
The IMF agreement, structured across a 40-month timeline under the Extended Fund Facility, culminates four years of intense negotiations and necessitates significant modifications to El Salvador’s cryptocurrency policies. This arrangement is projected to catalyse additional financial support, potentially amassing over $3.5 billion throughout the programme’s duration.
Demonstrating remarkable flexibility in its investment approach, El Salvador has occasionally deviated from its standard “one Bitcoin a day” protocol, executing several substantial purchases. Notable amongst these was a significant $1 million Bitcoin acquisition last December, shortly after finalising the IMF agreement, followed by an impressive procurement of 11 BTC on 4th February, valued at approximately $1 million.
To align with the IMF’s requirements, El Salvador’s legislature approved amendments to its Bitcoin legislation in late January 2025, including a crucial modification making Bitcoin acceptance optional for private sector enterprises, signalling a measured retreat from its previously aggressive cryptocurrency stance.