El Salvador's Bitcoin Strategy in 2026: Holdings, Daily Buys, and the IMF Contradiction

Here is the current state of El Salvador's bitcoin accumulation strategy, what the numbers mean, and why the policy is more defiant than ever.

How Much Bitcoin Has El Salvador Added Recently?

Accumulation has accelerated in 2026. In the first four months of the year alone, El Salvador added more than 1,600 BTC to its strategic reserve . Between January and early May 2026, total holdings rose from roughly 6,200 BTC to 7,643 BTC — a net increase of over 1,400 coins in less than five months . Over the full 12 months since June 2025, the country added approximately 1,500 BTC .

One early 2026 tracker reported that the government added roughly 1,633 BTC since January, bringing the total to 7,638 BTC worth over $599 million at the time .

The "One Bitcoin Per Day" DCA Strategy

Since November 2022, President Nayib Bukele has maintained a policy of purchasing one bitcoin per day as a dollar-cost averaging (DCA) strategy . The approach is designed to smooth out purchase prices across market cycles — buying through both euphoria and panic.

It has worked both ways. During the 2025 crypto market crash, Bukele aggressively "bought the dip." In one notable week in November 2025, the country snapped up 1,098 BTC in seven days, including a single purchase of 1,091 BTC worth nearly $100 million . By December 2025, total holdings had risen to roughly 7,509 BTC .

This daily buying rhythm has continued through 2026 even as bitcoin's price fell from its October 2025 peak of roughly $800 million in portfolio value . As of February 2026, the stock had lost roughly $300 million from that high, but the government did not pause its purchases .

The IMF Loan and the Policy Contradiction

In December 2024, El Salvador reached a deal with the IMF for a $1.4 billion loan (officially approved on February 26, 2025) . The agreement came with conditions designed to reduce the country's bitcoin exposure:

• Bitcoin acceptance was made voluntary for merchants (the legal-tender mandate was rescinded in February 2025)
• The government agreed to reduce public-sector involvement in the Chivo wallet and scale back government bitcoin activities
• Tax payments in bitcoin were no longer accepted

Despite those commitments, the Bukele administration has continued daily purchases and large "buy the dip" acquisitions throughout 2025 and 2026 . Multiple reports confirm the government's Bitcoin Office still publicly announces new purchases on social media . By early 2026, the Bitcoin Office declared the country was going "all in" on both bitcoin and artificial intelligence .

Notable controversy: An IMF report from mid-2025 alleged that El Salvador did not actually make new bitcoin purchases in 2025, claiming reported increases were merely internal wallet transfers . The IMF's own Article IV consultation stated "the overall stock of Bitcoin remained unchanged" after the EFF was approved . However, by 2026 multiple independent trackers and official announcements show clear ongoing accumulation . The contradiction may stem from a narrow IMF definition of "new public-sector purchases" versus purchases channeled through state-owned entities or the Bitcoin Office — or from a change in behavior once the first loan review was passed.

Broader Five-Year Context

El Salvador's bitcoin experiment has gone through distinct phases:

• September 2021: El Salvador became the first country in the world to adopt bitcoin as legal tender .
• 2022–2023: The experiment faced widespread skepticism, low merchant adoption, technical problems with the Chivo wallet, and repeated IMF warnings. The bear market tested the government's conviction.
• November 2022: Bukele announced the "one bitcoin per day" accumulation policy, signaling a long-term holding strategy rather than a transactional one .
• 2024–2025: Under IMF loan pressure, bitcoin's legal-tender status was rescinded and acceptance made voluntary . Yet the government continued buying — including the massive 1,098 BTC dip purchase in November 2025 .
• 2026: The reserve now exceeds 7,600 BTC. Bitcoin constitutes roughly 10% of the country's total reserves . The portfolio has experienced significant volatility — losing roughly $300 million from its October 2025 peak value during the early 2026 downturn , before partially recovering. The government has also begun diversifying, purchasing $50 million worth of gold in early 2026 as part of a "dual asset" strategy .

Key Uncertainty: Exact Holdings Fluctuate Daily

The precise BTC count and dollar value change every day with bitcoin's price and the frequency of new purchases. Different trackers report slightly different figures — ranging from 7,474 BTC to 7,696 BTC as of late June 2026 — partly due to timing and data-source variation . The total acquisition cost is estimated at roughly $622 million, meaning the portfolio's unrealized gain or loss varies significantly with market conditions .