El Salvador, under the leadership of pro-bitcoin President Nayib Bukele, executed its largest single-day Bitcoin purchase on Monday evening, acquiring 1,090 BTC (worth approximately $100 million at the time). This massive addition brought the country’s total holdings to 7,474 BTC, valued at roughly $676 million.
The purchase occurred as the price of Bitcoin (BTC) dropped to lows of under $90,000, its lowest level since April. El Salvador has a history of increasing its Bitcoin reserves during price dips. This latest acquisition is significantly larger than the country’s regular strategy of buying 1 BTC daily since November 2022.
Contradiction with IMF Agreement
Despite the public announcement by Bukele and the country’s Bitcoin Office, the legitimacy of the purchase is under scrutiny due to its $1.4 billion loan agreement with the International Monetary Fund (IMF). This agreement explicitly prohibits El Salvador’s public sector from purchasing Bitcoin.
- Conflicting Statements: High-ranking finance officials from El Salvador stated in July that the country had not bought any Bitcoin since February, directly contradicting Bukele’s public assertions.
- IMF Interpretation: An official IMF report suggested that reported increases in the country’s Bitcoin holdings are likely due to the consolidation of Bitcoin across various government-owned wallets—not new market purchases.
- Defiance Claim: However, Stacy Herbert, head of the Bitcoin Office, has previously asserted that El Salvador continues to buy Bitcoin in defiance of the IMF deal, publicly criticizing those who doubt the country’s “stacking actions recorded for eternity onto the Bitcoin blockchain.”
The announcement emphasizes El Salvador’s ongoing commitment to Bitcoin as a national asset, despite the financial and diplomatic complexities presented by its agreement with the IMF.
November 2025, Cryptoniteuae
