El Salvador pauses its daily Bitcoin acquisition strategy due to a $1.4 billion IMF loan agreement requiring revised crypto policies.
Bitcoin Purchases Pause Amid IMF Loan Agreement
El Salvador's daily Bitcoin purchase strategy has stopped, confirmed by Arkham Intelligence data, with the last acquisition recorded on February 17. The pause follows a recent IMF agreement for a $1.4 billion loan under the Extended Fund Facility, mandating Bitcoin policy revisions, including scaling back state initiatives.
Nation’s Holdings Surpass 6,000 BTC Amid Strategy Shift
El Salvador currently holds around 6,077 BTC, valued at approximately $586 million. In December 2024, following the IMF deal, the country purchased $1 million worth of Bitcoin in one transaction. In March 2024, Bukele transferred 5,600 BTC to a cold wallet, marking the first public disclosure of the government's wallet address.
Balancing Bitcoin Adoption With Economic Pressures
El Salvador's Bitcoin policies faced scrutiny over fiscal stability impacts. The IMF deal relaxed mandatory Bitcoin acceptance for businesses. Bitcoin now facilitates 4% of the nation's annual remittances, reportedly saving significant fees.
El Salvador continues to balance Bitcoin adoption with economic stability, adapting its regulations to IMF requirements while maintaining significant Bitcoin holdings and optimizing strategies.
