According to the country’s Bitcoin Office, which oversees its cryptocurrency holdings, El Salvador now possesses 6,313.18 BTC following a 21 BTC acquisition made on what the nation celebrates as Bitcoin Day.
The recent purchase of 21 BTC represents a departure from the Bitcoin Office’s usual policy of acquiring one Bitcoin per day—a practice the country has followed since the official implementation of its Bitcoin Law. While the nation has occasionally made larger acquisitions, this particular purchase was largely symbolic, reflecting Bitcoin’s 21 million supply cap and reaffirming the government’s ongoing commitment to the cryptocurrency, even amid IMF pressures and public skepticism.
Four Years of El Salvador’s Bitcoin Experiment
President Nayib Bukele first proposed the Bitcoin Law in 2021, making El Salvador the world’s first country to adopt Bitcoin as legal tender once the legislation was enacted.
The move marked a historic milestone for both the country and the cryptocurrency industry. However, it has drawn significant criticism from economists, who warn of Bitcoin’s volatility and the potential macroeconomic risks involved.
Among the most vocal critics has been the International Monetary Fund (IMF). Since the outset, the global lender has repeatedly cautioned that adopting such a volatile asset as legal tender could threaten financial stability, complicate monetary policy, and expose the country to a range of fiscal risks.
By 2025, the IMF had pressured El Salvador to scale back its Bitcoin ambitions as part of a $1.4 billion loan agreement. To secure the funding, the government agreed to halt public Bitcoin purchases, repeal the mandate requiring merchants to accept Bitcoin, and shut down its Chivo wallet program.
Even the country’s occasional BTC acquisitions came under scrutiny. An IMF review published in July noted that El Salvador had reportedly stopped buying new Bitcoin in February after signing the loan deal, despite the Bitcoin Office continuing to announce acquisitions on social media. The report suggested that these so-called purchases were, in reality, internal transfers between government-controlled wallets rather than actual market transactions.
Bitcoin Remains a Priority in El Salvador
Despite these constraints, El Salvador continues to actively promote its Bitcoin agenda publicly. On Sept. 7, the Bitcoin Office announced via X that roughly 80,000 public servants have earned Bitcoin certifications, and the country is rolling out educational initiatives focused on both Bitcoin and artificial intelligence.
Last month, El Salvador’s National Assembly approved a new Investment Banking Law, establishing the framework for select investment banks to operate as official Bitcoin service providers, issuers, and digital asset managers under the oversight of the Central Reserve Bank (BCR) and the Superintendency of the Financial System (SSF).
El Salvador’s approach has also drawn international attention, with countries such as Pakistan and Bolivia looking to the nation for guidance on their own Bitcoin strategies.
