Amidst a prevailing atmosphere of caution and downturn in the cryptocurrency markets, El Salvador has once again demonstrated its unwavering commitment to Bitcoin, executing its largest single-day acquisition to date. The nation, a pioneer in adopting Bitcoin as legal tender, invested approximately $100 million to acquire an additional 1,090 BTC, a move widely interpreted as a strategic “bottom-fishing” maneuver.
Announced by the country’s dedicated Bitcoin Office, this significant transaction, executed recently on the 18th of the month around 7 AM, elevates El Salvador’s total Bitcoin reserves to an impressive 7,474 BTC, valued at roughly $676 million.
Since becoming the first nation globally to embrace Bitcoin as legal tender in September 2021, El Salvador has consistently pursued a strategy of accumulation. Beyond its ongoing “dollar-cost averaging” approach – acquiring one Bitcoin daily since November 2022 – this latest substantial purchase aligns perfectly with its established “buy the dip” philosophy, occurring as Bitcoin experienced a significant downturn to its lowest point since April.
President Nayib Bukele, a vocal proponent of Bitcoin, promptly shared a screenshot of the recent acquisition on social media platform X, reiterating his previous declarations that El Salvador “will not stop buying Bitcoin.”
Hooah! pic.twitter.com/KxMVbUrcGE
— Nayib Bukele (@nayibbukele) November 18, 2025
Controversy Brews Over IMF Agreement and Bitcoin Buys
However, this unprecedented single-day accumulation has reignited a contentious debate: Did El Salvador genuinely purchase these 1,090 Bitcoins on the open market?
At the heart of the skepticism lies El Salvador’s $1.4 billion loan agreement with the International Monetary Fund (IMF), which reportedly includes explicit clauses prohibiting the government from further Bitcoin acquisitions.
Adding to the complexity, senior officials from El Salvador’s Ministry of Finance publicly stated in July that the government had not purchased any Bitcoin since February, a direct contradiction to President Bukele’s consistent public narrative.
An earlier official report from the IMF suggested that any observed increase in El Salvador’s Bitcoin holdings was attributable to the consolidation of assets from various wallets, rather than new market purchases.
Despite the IMF’s clear opposition and external scrutiny, Stacy Herbert, head of El Salvador’s Bitcoin Office, has consistently affirmed the nation’s intent to continue acquiring Bitcoin. She powerfully articulated her position, stating:
“Some Bitcoin players would rather believe the IMF’s claims than El Salvador’s publicly recorded actions on the Bitcoin blockchain.”
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