El Salvador insists on buying more Bitcoins even after agreeing on a $1.4 billion deal with the International Monetary Fund (IMF).
Maria Luisa Hayem, El Salvador‘s economy minister, confirmed that the country’s central bank or the nation’s Bitcoin Office is still buying Bitcoin, despite the deal with IMF that required the Central American country to scale back crypto purchases.
“There’s a commitment of President Bukele to keep accumulating assets as a way to do precisely that. Bitcoin keeps being an important project. There is an asset accumulation that we’re seeing from the government perspective, from the private sector perspective.” Maria said in an interview with Bloomberg.
According to Bitcoin Treasuries data, El Salvador holds 6,162 BTC valued at over $580 million. However, despite its strong pro-Bitcoin stance, it isn’t the largest government holder. Bhutan holds 7,486 BTC, though it has been gradually selling its holdings since the fourth quarter of 2024.
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Maria’s statement follows an earlier report by El Mundo, which revealed that nearly 90% of crypto firms registered in El Salvador are inactive. Citing data from the Central Reserve Bank, the report noted that only 20 out of 181 registered providers are currently operating, while the rest are listed as “non-operating.”