El Salvador Augments Bitcoin Reserves by 19 BTC

On March 4, El Salvador’s authorities expanded the national bitcoin reserve by 19 BTC, once again deviating from the plan to purchase one coin per day. This occurred amid a decline in the first cryptocurrency’s price below $90,000.

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— Nayib Bukele (@nayibbukele) March 4, 2025

CoinDesk noted the signing of an Extended Fund Facility (EFF) agreement on February 26 between El Salvador and the IMF for $1.4 billion over 40 months.

The initiative aims to address macroeconomic imbalances. It is expected that by 2029, the country’s public debt will decrease to 81% of GDP, with economic growth rates reaching 2.5-3%.

The initial tranche amounted to $113 million. The IMF prohibited the voluntary accumulation of the first cryptocurrency by the public sector under the program.

A preliminary step for the approval of the EFF was the amendment to the bitcoin law. These amendments removed the mandatory acceptance of digital gold by private organizations and revoked its status as legal tender.

The IMF noted the insignificant level of usage of the first cryptocurrency due to price volatility and weak public trust.

At the time of writing, the country’s authorities had acquired a total of 6,101 BTC at an average price of $46,517. The total value of the coins amounts to $533.4 million.

In September 2021, El Salvador became the first country in the world to recognize bitcoin as legal tender. Services and merchants were required to accept the cryptocurrency.

The government encouraged residents to use the Chivo wallet by paying $30 in digital gold for registration in the application. The state regularly purchased bitcoins and engaged in mining.

Earlier, U.S. President Donald Trump established a task force on digital assets, which will also assess the prospects of establishing a national reserve in cryptocurrencies.