El Salvador’s Bitcoin Holdings Reach $644 Million, Up $137 Million in One Month

TLDR

• El Salvador’s Bitcoin holdings now worth over $644 million, a $137 million increase in one month
• Country holds 6,181 BTC, ranking sixth among sovereign Bitcoin holders
• Bitcoin recently approached all-time high of $106,500
• El Salvador continues accumulating despite IMF loan terms restricting public-sector crypto purchases
• President Bukele remains committed to Bitcoin strategy with 124.4% unrealized profit margin

El Salvador’s bold move into Bitcoin has paid off handsomely. The Central American nation’s Bitcoin holdings have surged to $644 million in value, representing a $137 million increase in just one month. This windfall comes as Bitcoin recently approached its all-time high, briefly touching $106,500 before settling around $103,172.

President Nayib Bukele shared the good news on Sunday with a screenshot showcasing the country’s Bitcoin portfolio. The data revealed an eye-opening 124.4% profit margin on their initial investment of $287.1 million, generating unrealized gains of $357 million.

🤷🏻‍♂️ pic.twitter.com/05izbAR202

— Nayib Bukele (@nayibbukele) May 19, 2025

El Salvador now holds approximately 6,181 BTC, making it the sixth-largest sovereign Bitcoin holder globally. Only the United States, China, the United Kingdom, Ukraine, and Bhutan possess larger national Bitcoin reserves.

What makes this achievement more striking is that El Salvador has continued its Bitcoin acquisition strategy despite an agreement with the International Monetary Fund (IMF). The country secured a $1.4 billion IMF loan in December that required scaling back public-sector cryptocurrency involvement.

Creative Compliance

El Salvador has found creative ways to honor its IMF commitments while still growing its Bitcoin reserves. The country’s Bitcoin Office, technically outside the fiscal sector’s definition, has maintained its “one Bitcoin a day” acquisition policy.

Last month alone, El Salvador added another 30 BTC to its holdings. This accumulation strategy has continued despite the IMF loan terms seeking the removal of Bitcoin’s legal tender status.

“In terms of El Salvador, let me say that they continue to comply with their commitment of non-accumulation of Bitcoin by the overall fiscal sector,” stated Rodrigo Valdes, IMF Western Hemisphere Director, last month.

President Bukele has made it clear that his Bitcoin policy is permanent. In March, he wrote on X (formerly Twitter): “‘This all stops in April.’ ‘This all stops in June.’ ‘This all stops in December.’ No, it’s not stopping.”

The country’s legislature quickly passed bills making Bitcoin acceptance voluntary for the private sector to satisfy IMF requirements. However, this hasn’t stopped the government from continuing its Bitcoin accumulation strategy.

El Salvador made history in June 2021 by becoming the first nation to adopt Bitcoin as legal tender. Bukele proposed this move to promote financial inclusion in a country where many citizens lack access to traditional banking services.

Bitcoin’s recent rally has been attributed to several factors. Bitfinex analysts noted to Decrypt that “Bitcoin is rallying due to a combination of macro relief, strong ETF inflows, and growing expectations that the Fed will maintain policy flexibility amid softening economic data.”

The country’s success with Bitcoin has caught the attention of other nations. Changpeng “CZ” Zhao, former CEO of Binance, revealed last month that he’s been advising governments worldwide on building national crypto reserves.

“We are talking with many countries,” Zhao said, recommending wallet solutions and cold storage setups for state-held assets.

Vedang Vatsa, founder of Hashtag Web3, told Decrypt that El Salvador’s profits demonstrate the potential for digital assets to boost national wealth. However, he cautioned that widespread adoption remains limited.

“Such ambitious economic ideas work best when paired with broader public engagement and a roadmap toward long-term stability,” Vatsa said. He added that while the returns are impressive, “financial gains are only one part of the story.”

Bitcoin is currently trading at approximately $103,643, after reaching a local high of around $106,500. The cryptocurrency has rallied in recent weeks as investors gain confidence in Bitcoin’s resilience and anticipate resolution of the U.S.-China trade dispute.