El Salvador has expanded its national Bitcoin reserve to 7,762 BTC, the government’s Bitcoin Office confirmed, keeping alive its policy of purchasing one Bitcoin per day irrespective of market price. At around $77,000 per coin, the treasury is worth close to $598 million, making the country one of the largest formally declared sovereign holders of Bitcoin globally.
The accumulation has continued despite a $1.4 billion financing agreement with the International Monetary Fund. As part of the deal, El Salvador removed Bitcoin’s legal tender status, ended the requirement for businesses to accept Bitcoin, and began winding down the state-backed Chivo Wallet. The IMF had called on the government to limit public sector Bitcoin purchases and make merchant acceptance voluntary, but the daily buying program remained in place.
Between January and April alone, the country added more than 1,600 BTC to its reserve. President Nayib Bukele has described the strategy as a national-scale dollar cost average, arguing that the total number of coins held matters more than short-term price swings. While the legal framework was adjusted to secure IMF financing, El Salvador’s sovereign Bitcoin holdings were left untouched and continue to grow.
