El Salvador is pressing ahead with its Bitcoin strategy, continuing to accumulate the cryptocurrency despite a $1.4 billion loan agreement with the International Monetary Fund (IMF) that calls for reduced crypto purchases.
Economy Minister Maria Luisa Hayem confirmed to Bloomberg that the country’s Bitcoin Office remains active in acquiring BTC, signalling the administration’s firm commitment to its crypto-centric financial policy despite international pressure.
“There’s a commitment of President Bukele to keep accumulating assets as a way to do precisely that,”
Hayem stated.
“Bitcoin remains an important project. We’re seeing asset accumulation not only from the government but also from the private sector.”
Currently, El Salvador holds 6,162 BTC—worth more than $580 million—according to Bitcoin Treasuries. While this places the country among the top state-level Bitcoin holders, it still lags behind Bhutan, the small Himalayan kingdom that holds 7,486 BTC. However, Bhutan has been gradually reducing its holdings since the fourth quarter of 2024.
This continued accumulation comes as El Salvador faces increasing scrutiny over the implementation of its Bitcoin Law. A recent investigation by El Mundo found that nearly 90% of the crypto firms registered in the country are inactive. Data from the Central Reserve Bank shows that only 20 of the 181 registered providers are currently operational, with the majority listed as “non-operating.”
Further complicating the situation, at least 22 of these inactive firms may have failed to meet compliance obligations under Article 4 of the Bitcoin Law Regulation. This provision requires service providers to demonstrate high standards of integrity and honesty, maintain anti-money laundering (AML) programs, keep detailed asset records, and implement strong cybersecurity frameworks.
Despite these challenges, the country is not slowing down on its broader tech ambitions. In a bold move to position itself as a leader in digital innovation, El Salvador recently launched its first national AI Lab in partnership with NVIDIA. Announced by the Bitcoin Office, the lab aims to build sovereign AI infrastructure to improve critical sectors such as healthcare, education, and the economy.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
