El Salvador has made its largest single-day Bitcoin purchase to date, acquiring 1,090 BTC for approximately $100 million as the asset’s price fell below $90,000. The move, announced by President Nayib Bukele, increases the nation’s total holdings to 7,474 BTC, now valued at around $676 million.

A Strategic Dip Purchase

The acquisition occurred on Monday evening and is consistent with El Salvador’s established strategy of accumulating Bitcoin during market downturns. This major purchase supplements the country’s ongoing program of buying one Bitcoin every day, a policy that has been in place since November 2022. The latest transaction brought the total accumulation over the past seven days to 1,098.19 BTC.

Conflicting IMF Obligations

However, the acquisition raises questions about El Salvador’s compliance with its $1.4 billion loan agreement with the International Monetary Fund (IMF). A key condition of the deal explicitly prohibits the country’s public sector from purchasing Bitcoin.

Official statements on the matter have been contradictory. In July, two of El Salvador’s top finance officials stated the country had stopped buying Bitcoin in February, a claim that clashes with President Bukele’s more recent announcements. An official IMF report suggested that observed increases in the country’s holdings were from consolidating government wallets, not new market purchases.

Stacy Herbert, head of El Salvador’s Bitcoin Office, has publicly stated that the country continues its buying strategy despite the IMF deal, citing the transparency of blockchain transactions as evidence.

Sovereign Interest in a Down Market

El Salvador’s purchase coincided with a broader market slump. In the 24 hours following the transaction, Bitcoin’s price dropped 4.91% to $90,708. Market analysis revealed that short-term holders sold 148,000 BTC at a loss, the largest such sell-off since April 2025.

While some investors were selling, other sovereign entities appear to be accumulating. André Dragosch, European Head of Research at Bitwise, noted that nations buying during price declines could signal a shift in global financial strategies. Reinforcing this trend, the Czech National Bank recently disclosed its first direct investment in digital assets, purchasing $1 million worth of Bitcoin and other cryptocurrencies.