El Salvador Buys More Bitcoin! Ignores IMF Warnings
2025-06-02
El Salvador has once again added Bitcoin to its national reserves. The latest purchase of 8 BTC, valued at over $834,000, reflects the government’s continued belief in the cryptocurrency’s long-term value.
This new acquisition brings the country’s total Bitcoin holdings to approximately 6,194.18 BTC.
President Nayib Bukele has remained firm in his Bitcoin investment approach, showing no signs of retreat even as the International Monetary Fund (IMF) publicly urges caution. While global financial leaders warn of potential economic instability, El Salvador appears to be doubling down on its digital asset strategy.
IMF Urges Restraint, El Salvador Moves Ahead
Earlier this week, the IMF released a statement through its Extended Fund Facility agreement review, advising El Salvador to stop accumulating more Bitcoin. The Fund cited rising concerns about financial stability, fiscal vulnerability, and public debt.
Specifically, it recommended that the country maintain its current crypto exposure, emphasizing the risk of relying heavily on an asset known for its price volatility.
Despite the IMF’s warnings, the Salvadoran government has pushed forward. In the last 30 days alone, the country added 30 BTC—roughly $3.1 million based on current market prices.
This trend of regular accumulation is visible in public data from the government’s official bitcoin.gob.sv tracker, which shows daily increases in the nation’s digital asset portfolio throughout May.
Read more about Bitcoin (BTC):
Bitcoin Price (BTC), Market Cap, Price Today & Chart History
BTC to USD: Convert Bitcoin to US Dollar
A Strategy of Long-Term Belief
President Bukele and his administration continue to advocate for Bitcoin as a store of value and a step toward greater financial independence. While the cryptocurrency market remains volatile, the government believes that the long-term potential of Bitcoin outweighs the short-term risks.
This philosophy marks a significant departure from traditional economic thinking. Rather than conform to conventional monetary advice, El Salvador is choosing a unique path—one that positions it as an early adopter in the shift toward decentralized finance.
For Bukele, the decision is not only economic but also ideological, emphasizing sovereignty and innovation in global finance.
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Frequently Asked Questions (FAQ)
Q: What happened to El Salvador Bitcoin?
A: El Salvador has changed its Bitcoin law, making the acceptance of Bitcoin optional instead of mandatory. This reverses a key part of the 2021 law that made Bitcoin legal tender.
Q: When did El Salvador buy Bitcoin?
A: The government of El Salvador began purchasing Bitcoin in 2021.
Q: Who is the new president of El Salvador?
A: Nayib Armando Bukele Ortez has been the 81st president of El Salvador since 2019.
Q: Who is the biggest holder of Bitcoin?
A: The biggest known individual holder of Bitcoin is believed to be Satoshi Nakamoto, the creator of Bitcoin, with an estimated 1.1 million BTC. Among companies, MicroStrategy is a major holder.
Q: Who owns 90% of Bitcoin?
A: As of March 2023, the top 1% of Bitcoin addresses hold over 90% of the total Bitcoin supply. This means a small number of "whales" control a significant portion of Bitcoin.
Q: Does Elon Musk own any Bitcoin?
A: Elon Musk has stated that he owns a very small fraction of one Bitcoin (0.25 BTC) that a friend sent him years ago. Tesla, his company, did purchase Bitcoin in 2021 and is believed to still hold some.
Q: Who is the richest Bitcoin owner?
A: Changpeng Zhao (CZ), the founder and former CEO of Binance, is considered crypto's wealthiest person. He reportedly owns a significant portion of Binance and a stash of its BNB tokens.
Disclaimer: The content of this article does not constitute financial or investment advice.
