El Salvador continues to actively purchase Bitcoin, defying the International Monetary Fund's terms to cease using public funds for such acquisitions.
Bitcoin Acquisition Situation
According to data from the El Salvador Bitcoin Office, the country acquired an additional seven BTC in the last seven days, bringing its total holdings to 6,173 BTC, valued at over $637 million.
IMF Agreement Conditions
El Salvador signed a $1.4 billion loan agreement with the IMF in December 2024, under which the government agreed to rescind its Bitcoin legal tender law and make Bitcoin payments voluntary. The agreement also stipulated that El Salvador must scale back its Bitcoin accumulation and refrain from using public funds for purchases.
Government's Response to Pressure
President Nayib Bukele refused to halt Bitcoin purchases despite IMF pressure. He stated that the country would continue to accumulate BTC, even if it contradicts the IMF's requirements.
Despite the agreement with the International Monetary Fund, El Salvador maintains its strategy of accumulating Bitcoin, signaling the government's resilience in cryptocurrency matters.
