El Salvador Shatters Political Norms to Double Down on Bitcoin Revolution

El Salvador just rewrote the rulebook—literally. The Central American nation abolished presidential term limits in a move that critics call authoritarian but crypto advocates see as a green light for deeper Bitcoin integration.

No more red tape, no more handcuffs

President Nayib Bukele's administration effectively removed the only remaining barrier to long-term crypto policy continuity. The constitutional change comes exactly four years after El Salvador became the first country to adopt Bitcoin as legal tender—a gamble that's paid off in tourism revenue but still faces IMF scrutiny.

Wall Street analysts are clutching their pearls while crypto natives celebrate. 'They're playing chess while traditional finance is stuck playing checkers,' remarked one Bitcoin maximalist—before quickly adding, 'Not that they'd understand the metaphor with those 19th-century banking systems.'

The real test? Whether this political gamble can stabilize long enough to prove Bitcoin adoption wasn't just a one-term wonder.

Bukele’s bitcoin policy continues

Since making Bitcoin legal tender in 2021, Bukele has promoted the country as a hub for financial sovereignty, often in defiance of international pressure.

Despite IMF stipulations against further bitcoin purchases, El Salvador’s government recently announced the acquisition of eight additional BTC at an average of $118,500 per coin, bringing total reported holdings to approximately 6,248 BTC, worth over $740 million.

Data from Arkham Intelligence showed the government’s balance at 6,255 BTC.

Transparency and skepticism

However, questions linger about the transparency of these purchases.

A recent IMF report indicated that some of El Salvador’s latest bitcoin activity may have involved internal wallet transfers rather than new open market buys.

John Dennehy, founder of My First Bitcoin, commented:

“Another day, another Bitcoin transferred from an undisclosed govt controlled wallet to a public facing govt controlled wallet. It’s misleading to present this as El Salvador stacking when in reality the total amount stays the same.”

These concerns are echoed by other analysts, who note discrepancies between public announcements and on-chain data.

Political continuity and regional influence

Despite criticism from human rights organizations and Western governments, Bukele’s popularity remains high due to his tough stance on gang violence.

Investors and industry participants view the extended mandate as a stabilizing factor for further bitcoin infrastructure development and regulation in El Salvador.

The country has also expanded regional partnerships, most recently signing a cooperative digital asset agreement with Bolivia after a surge in that nation’s bitcoin activity.

Ongoing scrutiny

While Bukele’s strengthened position makes further bitcoin accumulation likely, calls for greater transparency persist.

The international community and market observers continue to watch for evidence that El Salvador’s on-chain actions match its public bitcoin narrative.