Bolivia Calls Crypto ‘Reliable Alternative’ in New El Salvador Partnership Deal

Key Points

1. Bolivia's virtual asset usage increased from $46.5 million to $294 million between June 2024 and June 2025 following regulatory changes.

2. Bolivia's Central Bank signed a memorandum of understanding with El Salvador’s National agency to enable mutual information exchange and knowledge sharing on cryptocurrency.

3. Bolivia authorized its state oil company YPFB to use cryptocurrency for purchasing crude oil and diesel from international vendors, requiring at least $60 million weekly for fuel imports.

4. El Salvador maintains approximately 6,244 Bitcoin worth $742 million but faces IMF constraints, including unchanged Bitcoin holdings and privatization of the Chivo wallet.

5. El Salvador’s regulatory framework remains among the most developed globally for virtual assets, but public engagement in cryptocurrency learning programs has declined.