El Salvador became Global’s Headlines in 2021 when it became the first country to become adopted Bitcoin as a legal tender Under the leadership of President Nayib Bikele. This step gets praise from the maximum Bitcoin worldwide and positions the country as a testbed for the adoption of large -scale crypto.
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But in mid-20125, the brave vision seemed to fade quickly.
Bitcoin El Salvador Accumulated Strategy
On November 16, 2022, Bukele announced El Salvador would start buying 1 Bitcoin per day. Around the same time, the country established the National Bitcoin Office to coordinate the Crypto initiative. This development, together with the legal status of BTC, hinted at the government’s in -depth commitment to the adoption of Bitcoin.
The policy of Bakele-Pro-Crypto and anti-establishment-forced with many Salvadors, helped him secure a historic re-election in February 2024.
IMF Bailout explained the BTC slowdown
Apart from its revolutionary image, El Salvador’s economy struggles under the increasing debt and inflation. To stabilize finances, the government switched to the International Monetary Fund (IMF), which approved the extended funding facilities of $ 1.4 billion at February 2025.
However, the IMF clarifies one thing: El Salvador must limit the activity of Bitcoin Public sector, including BTC purchases and transactions. The government openly pushed back, stating that it would continue to buy Bitcoin – claims echoed throughout official social media.
But July 15, 2025 IMF Report tell a different story.
El Salvador hasn’t bought Bitcoin since December 2024
According to the IMF, El Salvador has not bought a new bitcoin since December 2024 – the same month IMF Talks concluded. The report clarifies that the activity of new wallets is just an internal transfer, not a new acquisition.
What’s more telling, Bitcoin silently lost the status of the legal tender in January 2025, signifying strategic backpes.
What is next? Privatization and policy reversal
- Chivo Wallet, a state -sponsored Bitcoin wallet, is reported to be privatized at the end of July 2025.
- Rumors also suggested that El Salvador could dissolve Fidebitcoin, Bitcoin’s trust managed by the government.
This movement indicates a clear shift: Compliance with the term IMF is now a priority rather than a bitcoin experiment.
While El Salvador’s leadership had been standing Teguh Bitcoin adoptionThe latest developments show the axis towards economic pragmatism. The IMF bailout has re -established national priorities – and Bitcoin is no longer the center of attention.
Whether this marks the end or pause on the journey of Bitcoin El Salvador to be seen.
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FAQ
According to the IMF report in July 2025, El Salvador has not bought a new Bitcoin since December 2024, although there was a government claim for daily acquisitions.
The Chivo wallet sponsored by the state is reported to be privatized at the end of July 2025, signifying the reduction of government involvement in Crypto.
Fidebitcoin (The Salvadoran Trust for Bitcoin Adoption) is a The Fund for the Government Managed In El Salvador, it was established to support Bitcoin adoption and facilitate the conversion between Bitcoin and USD for Chivo Wallet users. Reportedly dissolved as part of the IMF bailout condition.
Rumors suggested El Salvador to dissolve Fidebitcoin, Bitcoin’s trust managed by the government, as part of a shift towards the IMF compliance.
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