El Salvador’s Bitcoin buying spree has finally come to an end — at least on paper.
Under a $1.4 billion loan agreement with the International Monetary Fund, the country paused Bitcoin purchases using public funds.
In a press briefing this week, Rodrigo Valdes, director of the IMF’s Western Hemisphere Department, confirmed that El Salvador is complying with key conditions of its programme, including the “non-accumulation of Bitcoin” by the public sector.
“The programme of El Salvador is not about Bitcoin,” Valdes said. “It’s much deeper — in governance, transparency, and fiscal reforms.”
While public sector purchases have halted, blockchain data shows El Salvador continues to grow its Bitcoin holdings through other means.
The country currently controls nearly 6,160 Bitcoin, up from about 6,055 Bitcoin in February.
The government has maintained its strategy of purchasing roughly one Bitcoin per day, though the IMF confirmed that these acquisitions no longer involve public fiscal resources tied to the IMF-supported programme.