El Salvador Holds $618 Million in Bitcoin
El Salvador's national Bitcoin reserve is valued at approximately $618 million, with holdings reported between 7,760 and 7,792 BTC as of late September to early October 2026. Depending on market fluctuations and Bitcoin's price, the dollar value of the reserve has ranged from roughly $598 million to $660 million. Independent trackers, including BitcoinTreasuries.net, have confirmed the official figures reported by the National Bitcoin Office.
The country has held Bitcoin since September 2021, when it became the first nation to adopt the cryptocurrency as legal tender. Since the start of the International Monetary Fund (IMF) program, holdings have increased by more than 1,700 BTC, rising from an initial range of 5,968 to 6,070 BTC. The administration of President Nayib Bukele has maintained a long-term holding strategy, signaling plans to keep the coins rather than trade them.
IMF Loan Conditions and Private Donations
In February 2025, the IMF approved a $1.4 billion Extended Fund Facility for El Salvador, a long-term loan program tied to specific policy commitments. These commitments included limits on public-sector Bitcoin accumulation to prevent the government from spending state funds on additional coins.
During an IMF program review in October 2026, it was determined that Bitcoin added to the reserve since June 2025 originated from private donations rather than government resources. Because these additions were classified as donations, public-sector accumulation limits were waived for those coins.
As part of its agreements with the IMF, El Salvador also altered the state-linked Chivo wallet. Control of the digital wallet shifted to a private operator that now runs operations separately from the government.
Outlook and Observations
The October 2026 IMF review established a precedent indicating that program limits on public-sector accumulation do not apply to Bitcoin acquired through private donations. However, future reviews may scrutinize the identities of donors, the amounts contributed, and the terms of those donations. If the origin of new coins were to return to state funds, the accumulation limits would become active again.
