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El Salvador marked the fourth anniversary of its Bitcoin legal tender law with another purchase — a deliberate, headline-ready buy that keeps the country’s crypto holdings on display.

Government Figures Show 21 BTC Were Added

According to President Nayib Bukele and the country’s Bitcoin Office, the government bought 21 BTC on Sunday as a symbolic nod to Bitcoin’s 21 million supply cap.

Reports show the state has continued buying one BTC per day. The buying has been carried out since March 2024. Based on government figures and blockchain data, El Salvador now holds 6,313 BTC.

The holdings are valued at about $700 million at current prices. Small in daily budget terms, these moves carry big political weight.

Buying 21 bitcoin for Bitcoin Day. pic.twitter.com/3X4yKeiqzg

— Nayib Bukele (@nayibbukele) September 7, 2025

Clash With IMF Loan Terms

Reports have disclosed that the purchases confound a $1.4 billion IMF loan agreement signed in December last year. The deal required public entities to halt voluntary accumulation of Bitcoin and called for a freeze on further acquisitions under the finalized Extended Fund Facility.

As part of the agreement, the government revised the Bitcoin Law so merchant acceptance is voluntary, agreed to liquidate the Fidebitcoin trust, and planned an exit from the Chivo wallet program.

Yet purchases have continued. That has left IMF officials and outside observers watching whether future disbursements will be granted, since compliance reviews are scheduled through 2027.

IMF Estimates And The Question Of Disclosure

Based on an IMF report from March, the fund estimates El Salvador spent roughly $300 million on Bitcoin since 2021. At current market levels, those purchases represent more than $400 million in unrealized gains.

But the IMF also noted that limited disclosure around transactions and holdings makes a full independent assessment difficult.

Government disclosure of Bitcoin activity remains incomplete, even with public dashboards now in place. Reports have noted that unrealized gains could be affected if market prices decline.

On Bitcoin, Security Moves And Public Transparency

Late last month, the National Bitcoin Office redistributed holdings across multiple addresses, placing a cap of roughly 500 BTC per address.

Officials said the change was motivated by concerns about future quantum computing threats. The new addresses were published on a public dashboard, a move intended to boost clarity over custody.

Some market and industry observers welcome the dashboard. Others say the quantum argument sounds precautionary and that clearer audit standards are still needed.

Bold But Divisive

Four years after adopting Bitcoin as legal tender, El Salvador’s approach is still splitting opinion. Supporters say the country has built strong gains and stayed committed to its plan, while critics warn it has created problems with international lenders.

The anniversary shows that El Salvador’s Bitcoin push is still seen by many as bold, but also deeply disputed.

Featured image from Unsplash, chart from TradingView

Paolo Ardoino, CEO of Tether, has dismissed talk of a Bitcoin sell-off, making it clear that the company continues to direct part of its profits into Bitcoin, gold, and even land. His comments come in the wake of speculation that the stablecoin giant had reduced its exposure to BTC in order to accumulate more gold. 

The rumors of Tether’s Bitcoin sell-offs gained traction after quarterly reports showed a decline in its Bitcoin reserves, but both Ardoino and Jan3 CEO Samson Mow have noted that no sales took place and that Tether’s commitment to Bitcoin is only growing stronger.

Samson Mow Debunks Rumors Of Bitcoin Sell-Off

Rumors have spread across the crypto industry that Tether, the issuer of the world’s largest stablecoin USDT, is selling off parts of its massive Bitcoin holdings to buy gold.

In a post on the social media platform X, Samson Mow, a popular crypto commentator, pointed to analysis from content creator Clive Thompson, who noted that Tether’s holdings dropped from 92,650 BTC at the end of Q1 2025 to 83,274 BTC at the end of Q2 2025. As a result, Thompson concluded that Tether is selling Bitcoin to buy gold.

According to Mow, this conclusion ignored a key detail of Tether allocating part of its Bitcoin reserves to fund its initiative, Twenty One Capital (XXI). He explained that 14,000 BTC was transferred to XXI on June 2, followed by another 5,800 BTC in July. 

Taking those transfers into account, Tether actually ended Q2 with a net increase of 4,624 BTC compared to Q1, and including the July allocation, the company’s overall position grew by more than 10,000 BTC. Mow described the rumors as yet another example of desperation for bearish Bitcoin headlines and said that Tether’s stance on BTC is overwhelmingly bullish.

Tether CEO Confirms Commitment To Bitcoin

Responding to Samson Mow’s comments, Tether’s CEO Paolo Ardoino also addressed the speculation directly, and his response rejected the idea that the company had liquidated any of its Bitcoin to acquire gold. He clarified that the apparent reduction in the company’s Bitcoin reserves was tied to transfers into the firm’s investment arm, Twenty One Capital (XXI), and not to any sale. 

“Correct. Tether didn’t sell any Bitcoin. As Samson says below, it contributed part of its stash into XXI,” Ardoino said. 

The Tether CEO further noted that Tether is committed to channeling part of its profits into what he described as safe assets, such as Bitcoin, gold, and land. Tether’s investments extend beyond only Bitcoin. Tether has also been open about its interest in gold, with Ardoino referring to it as “natural Bitcoin.” Reports indicate that the company is currently exploring investments in gold mining projects, and it recently bought a minority stake in the gold royalty company Elemental Altus for $105 million.