Catenaa, Saturday, March 08, 2025-El Salvador President Nayib Bukele said the country will continue purchasing Bitcoin, despite an agreement with the International Monetary Fund to limit cryptocurrency-related activities.
Bukele took to X on Tuesday to reaffirm his commitment to Bitcoin, dismissing concerns that the IMF deal would halt acquisitions. “No, it’s not stopping,” he wrote. “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.”
In December, El Salvador and the IMF reached an agreement requiring the country to scale back its Bitcoin-related initiatives in exchange for a $1.4 billion loan, part of a larger $3.5 billion financing package. The IMF has previously warned that the country’s Bitcoin reserves pose risks that have yet to materialize.
To meet IMF conditions, Congress approved measures making Bitcoin acceptance voluntary in the private sector. Last month, the IMF released an initial $113 million disbursement.
Despite the agreement, El Salvador’s Bitcoin treasury announced Tuesday it had increased its holdings to 6,101.18 BTC, worth over $535 million.
Bukele’s statement drew reactions from Bitcoin supporters, including Strategy CEO Michael Saylor and crypto investor Samson Mow.
The El Salvadoran government has not clarified how it will balance its Bitcoin purchases with IMF requirements.
