El Salvador has continued adding bitcoin to its reserves even after the International Monetary Fund said the country had failed to meet program criteria tied to public-sector crypto holdings. Data published by the government’s Bitcoin Office shows the state added 7 BTC over the past seven days, taking reported holdings to 7,798 BTC.
At the valuation cited by the Bitcoin Office, that stockpile was worth more than $643 million at the time of writing. The continued purchases suggest the government has not paused the one-bitcoin-a-day approach associated with President Nayib Bukele, despite the IMF’s latest warning that no further accumulation was expected beyond documented donations.
IMF review highlighted unmet criteria
The latest buying came roughly a week after the IMF granted a waiver related to El Salvador’s conduct under its ongoing $1.4 billion credit arrangement. According to the fund, performance criteria connected to public-sector crypto holdings were not met, though the waiver was approved alongside what it described as strong corrective actions and renewed commitments.
The IMF facility, extended in February 2025, included conditions aimed at gradually unwinding the country’s bitcoin-related public policies. Fund officials said at the time that the program would limit government involvement in bitcoin-linked economic activity as well as government transactions in and purchases of bitcoin.
Bitcoin policy has already been scaled back
As part of that broader shift, bitcoin’s role inside El Salvador changed from legal tender status to voluntary use, according to the source report. The country has also transferred majority ownership of the Chivo Wallet to a private operator, a move the IMF characterized as a welcome step.
After its latest review, the IMF said state participation in bitcoin activities was being unwound. It also stated directly that no further bitcoin accumulation was expected beyond documented donations, making the continued additions reported by the Bitcoin Office notable in the context of the agreement.
Government holdings keep rising
Despite those commitments, the Bitcoin Office’s public tracker indicates that daily additions have continued. Over the last week, the office reported 7 BTC in new purchases, consistent with the government’s stated pattern of acquiring one bitcoin per day.
The strategy has been closely associated with Bukele, who previously said El Salvador would keep stacking bitcoin until it became unaffordable with fiat currencies. Based on the latest figures cited in the report, the country’s holdings now stand at 7,798 BTC.
Uncertainty remains over the source and next steps
The report noted that the ongoing additions may be coming from a donor, although no such source has been publicly identified. That leaves open the question of whether the current inflows would fit within the IMF’s reference to documented donations.
For now, the confirmed facts are that the IMF has said El Salvador fell short on crypto-related program criteria while the country’s Bitcoin Office continues to show fresh BTC being added each day. Whether the purchases continue or are halted to align more closely with IMF requirements remains unresolved.
Source: news.bitcoin.com