El Salvador has acquired 13 additional Bitcoin since March 1, totaling over 6,105 BTC, despite IMF pressure to cease purchases. The government continues to embrace Bitcoin, having amended its laws while attracting major crypto firms like Bitfinex and Tether to set up operations in the country. President Bukele remains resolute in his commitment to Bitcoin contrary to IMF demands.
El Salvador has recently acquired an additional 13 Bitcoin since March 1, reasserting its dedication to accumulating this digital asset amid pressure from the International Monetary Fund (IMF). As reported by the El Salvador Bitcoin Office, the country’s Bitcoin treasury now exceeds 6,105 BTC, translating to a value of over $527 million at current market rates. Typically, the nation acquires Bitcoin at a consistent rate of one BTC daily, but on March 3, it increased its purchases to five BTC within a single day.
In December 2024, El Salvador secured a $1.4 billion loan agreement with the IMF, which mandated the cessation of Bitcoin’s legal tender status and the reduction of public sector engagement with cryptocurrency. To meet IMF stipulations, El Salvador’s Congress amended its Bitcoin laws in January 2025, with a 55-2 vote favoring the repeal of the earlier legislation. Nevertheless, the government maintained its Bitcoin acquisition strategy, including a purchase of two BTC on February 1.
As the IMF heightened its demands on March 3, it urged El Salvador to cease Bitcoin purchases and barred the nation from issuing debt or securities tied to Bitcoin. In response, President Nayib Bukele categorically rejected the IMF’s conditions, asserting that the country would persist in accumulating Bitcoin, dismissing the IMF’s continued pressure as mere “whining.” “If we didn’t stop when the world ostracized us…we won’t stop now, and we won’t stop in the future,” Bukele confidently stated.
El Salvador’s steadfast approach to Bitcoin has attracted a wave of crypto firms setting up operations within the country. On January 7, Bitfinex Derivatives announced its relocation from Seychelles to El Salvador. Shortly thereafter, on January 13, Tether, the largest stablecoin issuer globally, confirmed its intentions to establish its headquarters in the Central American nation.
El Salvador’s ongoing acquisition of Bitcoin amid IMF pressures highlights its commitment to this digital asset, despite regulatory demands. The country continues to attract significant crypto firms due to its favorable Bitcoin policy, which indicates a growing acceptance of cryptocurrency in its economy. President Nayib Bukele’s firm stance reinforces El Salvador’s resolve to remain a leader in the cryptocurrency space.
Original Source: www.binance.com
