- El Salvador’s Bitcoin holdings surpassed $767 million on Monday after Bitcoin hit an all-time high of $123,000.
- The country struck a $1.4 billion deal with the IMF aimed at dropping its debt-to-GDP ratio, and also agreed on provisions discouraging further accumulation of Bitcoin.
- Nexbridge and Nexplace plan to construct the first native Bitcoin Capital Markets infrastructure firm in El Salvador.
El Salvador’s Bitcoin holdings have tripled in value to over $767 million as of July 14. The country’s BTC holdings surged as Bitcoin broke to new all-time highs Monday, reaching $123,000.
El Salvador’s BTC holdings could inch up higher this week as more developments in the sector are expected this week of July 14, which the House labeled “Crypto Week.”
The U.S. House of Representatives will be considering several crypto legislations on Monday, including the GENIUS Act, in a bid to establish a clearer regulatory framework for cryptocurrencies.
El Salvador Continues Accumulating Bitcoin (BTC) Despite IMF Measures
Data from the country’s Bitcoin Office showed that in the last seven days, the country has added 8 BTC to its national reserves, pushing its total holdings to 6,237.18 BTC.
El Salvador’s Bitcoin accumulation initiative is part of President Nayib Bukele’s commitment to his “1 BTC a day” strategy.
The Central American country was the first to adopt BTC as legal tender in 2021, but it reversed its decision in January, following pressure from the IMF.
The International Monetary Fund (IMF) struck a $1.4B loan deal with the nation, which urged the government to halt its Bitcoin accumulation strategy and drop BTC’s status as legal tender.
Despite the IMF’s non-accumulation stipulation, the nation has continued to purchase one BTC per day from Bukele’s strategy, initiated in 2022.
The global lender issued the loan in December 2024 and said it would cover El Salvador for 40 months to reduce its debt-to-GDP ratio.
The IMF also revealed that other banks, such as the World Bank, will chip in additional loans to push the total financing deal to over $3.5 billion.
Rodrigo Valdes, director of the IMF’s Western Hemisphere Department, argued that El Salvador was still compliant with the institution’s directives despite the continued purchase of the digital asset. The global lender maintains that the restrictions called for El Salvador to drop its Bitcoin plans were due to BTC’s speculative nature, which poses a risk to the country.
Stacy Herbert, director of the National Bitcoin Office (ONBTC), said the country is now branded globally as “Bitcoin Country,” proving that the Central American nation made the extraordinary possible.
Herbert also compared El Salvador to Switzerland’s financial reputation built on gold, arguing that it has the potential to do the same with Bitcoin.
El Salvador To Build The First Native BTC Capital Markets Infrastructure
El Salvador also announced plans to build the first BTC-based capital markets infrastructure firm. Nexbridge and Nexplace revealed that they will spearhead the development of the trading platforms.
Both firms completed an $8M Series A funding round to construct the new Capital Markets infrastructure.
The funding was previously licensed and authorized by Salvadoran authorities and was led by Fulgar Ventures, hoping it will help boost the establishment of the capital markets in the second half of 2025.
“We chose El Salvador because it offers legal certainty, openness to innovation, and a clear political will to become a next-generation financial center,” says Michele Crivelli, CEO of Nexbridge and Nexplace.
Criveli mentioned that the new trading platform will offer access to bonds and equities and include services to raise capital and issue token shares using BTC rails.
He also acknowledged that establishing the infrastructure will take some time, but the country’s regulation offers the tools to accomplish the proposal. Criveli also believes the initiative will prove that the county can issue virtual assets securely.
Last month, the U.S. Senate introduced the “El Salvador Accountability Act of 2025,” led by Senators Tim Kaine, Chris Van Hollen, and Alex Padilla.
The legislation is focused on sanctioning the country’s executive branch involved in alleged gross violations of international human rights.
