Bitcoin Updates: In a Bold Move Against the IMF, El Salvador Ramps Up Bitcoin Purchases to Assert Independence

The government of El Salvador has ramped up its

buying efforts, acquiring 1,098.19 BTC in the last week—an amount worth close to $100 million—as the Central American country continues to expand its digital asset reserves during a broader market slump. President Nayib Bukele on X, posting a screenshot from the Bitcoin Office’s treasury dashboard to highlight the administration’s dedication to cryptocurrency. These acquisitions, which brought El Salvador’s total Bitcoin stash to 7,474.37 BTC (valued at $688 million), demonstrate a clear “buy the dip” tactic , reaching its lowest point in almost seven months.

This uptick in buying fits with El Salvador’s broader plan to use Bitcoin as a means of achieving financial independence. "

," stated Stacy Herbert, who leads the Bitcoin Office, in a recent post on X. Since first announcing daily Bitcoin purchases in November 2022, President Bukele has stood by the policy, even as international organizations such as the International Monetary Fund (IMF) have criticized it, as part of a $1.4 billion funding deal.

The most recent single-day buy of 1,090 BTC—worth $98.61 million—

in the history of El Salvador’s Bitcoin investments. While the IMF has questioned whether these acquisitions are truly market-driven, pointing to internal documents that suggest increases are due to wallet consolidation rather than new buys, Bukele and his team have rejected these assertions. " than in El Salvador’s ongoing accumulation, which is permanently recorded on the Bitcoin blockchain," Herbert commented in March.

Experts see the country’s approach as part of a wider movement among national governments to diversify their reserves with digital currencies.

, observed that "nations are taking advantage of price dips," suggesting a possible change in global financial tactics. El Salvador’s example has also motivated other states to consider Bitcoin; for instance, the Czech Republic’s central bank has recently disclosed its initial direct investment in digital assets, and other cryptocurrencies.

Although El Salvador became the first nation to recognize Bitcoin as legal currency in 2021, its use domestically remains modest, with most residents still depending on the U.S. dollar. Nevertheless, the government’s assertive buying strategy has

, following the U.S., China, and the UK. This move has also attracted interest from private companies, which have expanded into El Salvador and now accept Bitcoin payments.

The administration’s resistance to IMF-imposed limits highlights a deeper ideological position. "

," Herbert stressed, pointing to the broader political and economic effects of decentralization. As Bitcoin’s price remains volatile, El Salvador’s approach continues to serve as a real-world example of how countries might use digital assets to transform their financial systems.