El Salvador is still buying bitcoin as the market declines. As BTC slips below $66,000, the country led by Nayib Bukele consolidates a reserve that approaches 7,600 BTC. The signal is clear. San Salvador does not treat the decline as an alert, but as an accumulation window.
In brief
- El Salvador continues to buy Bitcoin despite the market decline.
- Its reserves are approaching 7,600 BTC, for more than $510 million.
- The strategy remains ambitious, but it exposes the country to high volatility.
El Salvador buys when the market doubts
Bitcoin fell to around $65,700, but El Salvador did not change the line. The country continues to add BTC to its strategic reserve, continuing its bitcoin investment strategy despite pressure from the IMF. This constancy contrasts with the mood of the market, where each decline revives doubts about the solidity of the cycle.
The national reserve is now approaching 7,600 BTC. Its value exceeds $510 million according to recent market prices. The exact figure varies depending on the source, because purchases are regular and portfolio movements sometimes remain difficult to read.
It is precisely this rhythm which gives weight to Salvadoran strategy. The country is not looking for the perfect shot. It advances by accumulation. One BTC per day, sometimes more, sometimes with adjustments. The method may seem simple. However, it becomes political when it is supported by a State.
A strategy that resists pressure from the IMF
El Salvador's position remains sensitive, as it continues under the gaze of the International Monetary Fund. The financing agreement concluded with the IMF pushed the country to modify its legal framework. Acceptance of bitcoin by businesses has become voluntary, and no longer mandatory.
This change could have marked a clear step backwards. However, Bukele never abandoned the heart of his bet. Bitcoin remains in the country's economic narrative. It also remains on its balance sheet, despite criticism of the volatility and exposure of public funds.
The most interesting point lies in this gray area. El Salvador has relaxed the law to reassure international donors, but it continues to accumulate. This position also fuels a recurring standoff, while the country has already been accused of circumventing IMF rules on bitcoin. It therefore gives the IMF a legal concession, while preserving its financial symbol.
A reserve that has become a political and financial tool
For Bukele, the bitcoin reserve is not just an accounting line. It serves as a showcase. It shows a country that wants to position itself against the traditional financial system. This image matters as much as the average purchase price.
El Salvador also seeks to attract investors, crypto companies and capital linked to new financial infrastructures. In this logic, each purchase reinforces the message. The country doesn't just want to hold bitcoin. He wants to be identified as the state that dared to make it a national axis.
But this strategy remains risky. A prolonged decline in bitcoin would weigh on the valuation of reserves. For a small dollarized economy, exposure to such a volatile asset can become a subject of budgetary tension. Supporters see it as a long-term vision. Critics see this as a dangerous concentration.
For now, Bukele is turning each decline into an argument. BTC's decline below $66,000 allows it to repeat that the country is buying when others are panicking. This posture appeals to bitcoiners. It annoys the institutions. Above all, it forces observers to follow every movement of the Salvadoran Treasury.
If bitcoin starts to rise again, El Salvador will be able to present its patience as a victory. If the fall worsens, the debate will become more brutal. In both cases, the country has already gained one thing: it has become the most monitored sovereign laboratory in the Bitcoin ecosystem, at a time when other states are also starting to look at national Bitcoin reserves as a new strategic tool.
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