El Salvador has quietly added 240 Bitcoin to its treasury since December 2024, even after signing a $1.4 billion loan agreement with the International Monetary Fund (IMF) that explicitly discouraged further Bitcoin accumulation and required the removal of its legal tender status.

According to the country’s Bitcoin Office, El Salvador’s national wallet now holds 6,209 BTC. The recent purchases continue President Nayib Bukele’s daily “one Bitcoin a day” strategy launched in 2022. Despite the IMF deal’s conditions, the government appears to have found a way to remain technically compliant while sticking to its pro-Bitcoin agenda.

In a press briefing on April 26, Rodrigo Valdes, IMF director for the Western Hemisphere, stated that El Salvador is still adhering to its commitment by ensuring the broader fiscal sector does not accumulate Bitcoin. Observers believe the government is exploiting a flexible interpretation of the agreement, possibly using non-public entities or asset reclassifications to continue BTC acquisitions without breaching the deal.

Blockchain adviser Anndy Lian said this strategy allows El Salvador to maintain its crypto-friendly reputation while securing crucial IMF funding.

However, while Bitcoin buying continues, crypto remittance activity has taken a hit. Data from El Salvador’s Central Reserve Bank shows a sharp 44.5% drop in crypto remittance payments during Q1 2025 compared to the same period in 2024. Transfers totaled just $16 million, down from $28.3 million a year earlier, now making up only 0.52% of total remittances.