briefing<\/a><\/strong>, Rodrigo Valdes, head of the IMF\u2019s Western Hemisphere Department, assured reporters that El Salvador was complying with its non-accumulation pledge. Valdes also praised the country\u2019s broader progress in fiscal reforms, transparency, and governance \u2014 reforms critical to securing a $1.4 billion loan deal signed in December 2024.<\/p>\nKey requirements tied to the agreement included scaling back Bitcoin initiatives, ending BTC-based tax payments, and modifying the national Chivo wallet project. The IMF emphasized that the program\u2019s primary focus was broader economic stability, not Bitcoin.<\/p>\n
However, on-chain data suggests that El Salvador has quietly continued to expand its Bitcoin holdings. According to the country\u2019s National Bitcoin Office, El Salvador acquired 8 BTC over the past week and 31 BTC throughout the past month, bringing its total reserves to 6,159 BTC \u2014 worth over $580 million today. These purchases show a staggering near-100% profit compared to the country\u2019s original investment.<\/p>\n