Key Takeaways:
- Bukele Resists IMF Pressure: El Salvador’s President Nayib Bukele reaffirmed the country’s commitment to buying Bitcoin daily, rejecting IMF’s call to halt purchases.
- IMF’s Conditions on Bitcoin: As part of a $1.4B funding deal, the IMF urged El Salvador to stop Bitcoin purchases, limit debt issuance, and halt mining operations.
- El Salvador’s BTC Holdings: The country holds 6,101 BTC (~$534.5M), ranking sixth among nation-states with the largest Bitcoin reserves.
El Salvador’s President Nayib Bukele has reaffirmed the country’s commitment to purchasing Bitcoin, despite pressure from the International Monetary Fund (IMF) to halt such acquisitions.
The IMF, as part of a $1.4 billion funding agreement, urged El Salvador to stop voluntary Bitcoin purchases, limit Bitcoin mining, and scale back debt issuance linked to BTC.
“This all stops in April.” “This all stops in June.” “This all stops in December.”
— Nayib Bukele (@nayibbukele) March 4, 2025
No, it’s not stopping.
If it didn’t stop when the world ostracized us and most “bitcoiners” abandoned us, it won’t stop now, and it won’t stop in the future.
Proof of work > proof of whining https://t.co/9pC0PoY3YQ
However, Bukele made it clear in a March 4 post on X that the country will continue acquiring at least one Bitcoin per day.
He emphasized that El Salvador’s Bitcoin strategy remained unchanged even when the country faced international isolation and criticism from Bitcoin supporters.
Since adopting Bitcoin as legal tender in September 2021, El Salvador has accumulated 6,101 BTC, currently valued at approximately $534.5 million.
The country ranks sixth among nations in terms of Bitcoin holdings, following the U.S., China, the U.K., Ukraine, and Bhutan.
In response to IMF recommendations, El Salvador previously adjusted its Bitcoin policies, making Bitcoin payments voluntary and requiring tax payments in U.S. dollars.
While Bukele has rejected the call to stop Bitcoin purchases, it remains unclear whether his government will comply with other IMF demands.
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