El Salvador commemorated the fourth anniversary of its groundbreaking Bitcoin law by purchasing 21 BTC worth approximately $2.3mn, President Nayib Bukele announced on social media.

"Buying 21 bitcoin for Bitcoin Day," Bukele posted on X on September 7, marking the anniversary of legislation that made El Salvador the world's first country to adopt Bitcoin as legal tender alongside the US dollar in September 2021.

The symbolic purchase, referencing Bitcoin's 21mn supply cap, brings El Salvador's total holdings to around 6,313 BTC, valued at approximately $701mn according to the National Bitcoin Office. The acquisition represents a reaffirmation of the government's cryptocurrency commitment despite ongoing challenges.

El Salvador's Bitcoin strategy has faced sustained criticism from economists and the International Monetary Fund, which has consistently warned about volatility risks and potential threats to financial stability. These concerns materialised in 2025 when the IMF made scaling back Bitcoin ambitions a condition for a $1.4bn loan agreement.

Under the IMF deal, El Salvador agreed to halt public Bitcoin purchases, repeal merchant acceptance requirements, and shut down its Chivo wallet programme.

The country's crypto approach has evolved significantly since 2021, when it became the first nation to adopt Bitcoin as legal tender. In January, Bukele's Congress reversed the mandatory acceptance requirement for Bitcoin payments, fulfilling a key IMF condition while preserving the government's ability to hold the cryptocurrency as a reserve asset.

In early September, El Salvador confirmed that it will redistribute its Bitcoin reserves across multiple new addresses to mitigate potential quantum computing threats. The cryptocurrency holdings, currently stored in a single address, are set to be divided into wallets containing up to 500 Bitcoin each, worth approximately $54mn per wallet.

While the IMF previously assured that El Salvador’s Bitcoin accumulation remained within the programme’s limits, this latest brazen purchase suggests Bukele may be testing the boundaries of the fund's restrictions while maintaining his signature cryptocurrency policy. However, the tension between Bitcoin advocacy and international lending requirements could hinder El Salvador's economic recovery efforts and its ability to secure future multilateral support.