El Salvador Adds 11 Bitcoin Amid IMF Pressure to Limit BTC Adoption

El Salvador Adds 11 Bitcoin Amid IMF Pressure to Limit BTC Adoption featured

In Summary

  • El Salvador purchased 11 BTC worth over $1M, reaffirming its Bitcoin commitment
  • This comes after a December 2024 IMF loan deal requiring reduced Bitcoin adoption
  • The IMF warned of financial risks but noted in 2024 many hadn’t materialized
  • El Salvador remains committed to Bitcoin despite criticism and restrictions


Monday, January 27, 2025 – El Salvador has expanded its Bitcoin reserves by acquiring 11 BTC, valued at over $1 million, despite ongoing pressure from the International Monetary Fund (IMF) to curtail its cryptocurrency adoption. 

The nation’s Bitcoin Office announced the purchase on January 20, reaffirming its commitment to the cryptocurrency.

The move comes shortly after El Salvador agreed in December 2024 to reduce its Bitcoin-related activities to secure a $1.4 billion loan from the IMF. The agreement required the government to cease mandating Bitcoin acceptance by businesses and to limit public sector involvement in crypto activities. 

Stacy Herbert, head of El Salvador’s Bitcoin Office, hinted last year that the country would accelerate its Bitcoin accumulation following the IMF deal.

El Salvador, which adopted Bitcoin as legal tender alongside the U.S. dollar in 2021, has faced persistent criticism from the IMF. The organization warned early on about potential financial and macroeconomic risks tied to the policy. 

While the IMF acknowledged in August 2024 that many of the risks “had not yet materialized,” it emphasized the need for improved transparency and measures to mitigate potential fiscal and financial stability issues. 

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