The Government of El Salvador continues to stack Bitcoin (BTC) for its National Cryptography Reserve, despite an ongoing agreement with the International Monetary Fund (IMF) that stipulates that the Central American country stops using public funds to buy.
According to the data of the El Salvador Bitcoin office, the country acquired additional seven BTC in the last seven days, which takes its total holdings to 6,173 BTC, valued at more than $ 637 million.
The Bitcoin office of El Salvador has continued its constant rhythm of Bitcoin’s acquisitions months after the IMF agreement was signed and shows no signs of stopping its purchases from Bitcoin.
The Central American country is one of the only nations that Bitcoin buys in open market operations, and its national Bitcoin treasury strategy will serve as a plan for other countries that also considers Bitcoin strategic reservations.
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El Salvador is still challenging against IMF pressure
El Salvador signed a loan agreement of $ 1.4 billion with the IMF in December 2024. As part of that agreement, the country’s government agreed to terminate its legal law of Bitcoin and make Bitcoin payments volunteers.
The agreement also stipulated that El Salvador must reduce its accumulation of Bitcoin, refrain from using public funds to finance Bitcoins purchases.
In addition, the agreement required that the government privatize the goat wallet, which was publicly financed, but saw little use among residents.
In January 2025, the legislators of the Central American country repealed Bitcoin’s legal law in a 55-2 congress vote, although this did nothing to stop or slow down Bitcoins’ acquisitions.
https://www.youtube.com/watch?v=6te6J20-xey
The IMF issued another request to the country to stop Bitcoin’s purchases in March 2025, reiterating the original terms of the agreement. However, the president of El Salvador, Nayib Bukele, rejected requests.
Bukele emphasized that the country would not stop its purchasing of Bitcoin or would reduce the accumulation of BTC compared to the growing pressure of the supranational financial institution.
“No, he does not stop. If he did not stop when the world condemned us with an ostracism and most of the” bitcoiners abandoned us, it will not stop now, and will not stop in the future, “Bikele Wroe in a March 4 x post.
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