El Salvador, which has broken new ground by accepting Bitcoin as legal currency, has been much talked about in recent months with the agreement it made with the International Monetary Fund (IMF).
In exchange for the loan, the IMF asked El Salvador for a series of restrictions, such as reducing its purchases of BTC. However, El Salvador continues to buy Bitcoin despite the IMF’s pressure to restrict it.
El Salvador Buys Bitcoin Despite IMF!
El Salvador continues to buy BTC despite a $1.4 billion loan agreement with the IMF that includes conditions to reduce Bitcoin purchases.
The country’s Bitcoin Office has been sharing updates on ongoing BTC purchases via social media, raising concerns among investors over whether the government is fully complying with loan terms.
Economy Minister María Luisa Hayem said in an interview with Bloomberg that President Nayib Bukele is determined to accumulate assets.
Stating that BTC continues to be an important project for the country, the minister stated that both the government and the private sector continue to actively accumulate Bitcoin.
Stating that El Salvador will continue to buy Bitcoin, Minister Hayem said:
“President Bukele promised to do just that. The president promised to continue accumulating Bitcoin.”
According to official data from the El Salvador Bitcoin Office, El Salvador has added 8 Bitcoins to its national Bitcoin strategic reserve in the last 7 days, bringing its total reserve to 6,162.18 BTC.
*This is not investment advice.
