El Salvador Pauses Daily Bitcoin Purchases Amid IMF Loan Agreement

El Salvador’s regular Bitcoin buying activity seems to have stalled, with the latest recorded purchase from the country's wallet on February 17, according to Arkham Intelligence.

This pause follows the nation’s recent agreement with the International Monetary Fund (IMF) for a $1.4 billion loan.

Currently, El Salvador holds over 6,000 BTC, worth roughly $586 million at the current market rate. President Nayib Bukele initiated a daily Bitcoin purchasing plan in November 2022, acquiring one Bitcoin per day. In March 2024, Bukele transferred around 5,600 BTC, valued over $400 million at the time, into a cold storage wallet, calling it the country’s “first Bitcoin piggy bank.” This was the first time the country publicly shared its Bitcoin wallet address.

The IMF deal, spanning 40 months under the Extended Fund Facility, came after extensive negotiations and mandates that El Salvador adjust its Bitcoin policies. This arrangement aims to unlock additional financial support, possibly surpassing $3.5 billion during the program period.

As part of the agreement, El Salvador has agreed to scale back its Bitcoin-related activities, including making Bitcoin adoption voluntary for private sector businesses. To comply, the country’s legislature passed changes to its Bitcoin law in January 2025.

El Salvador has also made notable larger Bitcoin purchases, moving away from its usual daily acquisition routine. For instance, after securing the IMF financing, the country bought $1 million worth of Bitcoin in December 2024 and added 11 BTC, valued at over $1 million, in early February 2025.