The federal government of El Salvador continues stacking Bitcoin (BTC) for its nationwide crypto reserve, regardless of a continuous handle the International Monetary Fund (IMF) stating that the Central American nation stop utilizing public funds to acquire Bitcoin as one of the conditions for a loan arrangement.
According to information from the El Salvador Bitcoin Workplace, the nation got an extra 7 BTC in the last 7 days, bringing its overall holdings to 6,173 BTC, valued at over $637 million.
El Salvador’s Bitcoin Workplace has actually continued its stable speed of Bitcoin acquisitions months after the IMF arrangement was signed and reveals no indication of stopping its Bitcoin purchases.
The Main American nation is among the only countries actively acquiring Bitcoin in free market operations, and its nationwide Bitcoin treasury method will act as a plan for other nations likewise thinking about Bitcoin tactical reserves, according to crypto market executives.
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El Salvador stays bold versus IMF pressure
El Salvador signed a $1.4 billion loan arrangement with the IMF in December 2024. As part of that arrangement, the federal government of the nation consented to rescind its Bitcoin legal tender law and make Bitcoin payments voluntary.
The arrangement likewise specified that El Salvador need to downsize its Bitcoin build-up, avoiding utilizing public funds to fund Bitcoin purchases.
Furthermore, the offer needed the federal government privatize the Chivo Wallet, which was openly financed however saw little usage amongst citizens.
In January 2025, legislators in the Main American nation rescinded the Bitcoin legal tender law in a 55-2 Congressional vote, although this not did anything to stop briefly or slow Bitcoin acquisitions.
The IMF released another demand to the nation to stop Bitcoin purchases in March 2025, repeating the initial regards to the arrangement. Nevertheless, El Salvador’s President Nayib Bukele pressed back versus the demands.
Bukele stressed that the nation would not stop its Bitcoin purchases or decrease its build-up of BTC in the face of installing pressure from the supranational banks.
” No, it’s not stopping. If it didn’t stop when the world ostracized us and most ‘Bitcoiners’ deserted us, it will not stop now, and it will not drop in the future,” Bukele composed in a March 4 X post.
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