El Salvador Adds 5 BTC Despite IMF Pressure
El Salvador Defies IMF, Adds 5 Bitcoin in One Day
El Salvador continues to increase its Bitcoin holdings, despite ongoing pressure from the International Monetary Fund (IMF). On March 3rd, the country purchased 5 BTC in a single day—a significant departure from its previous strategy of daily, smaller acquisitions. Since March 1st, El Salvador has added 13 BTC to its reserves, bringing the total to over 6,105 BTC, currently valued at over $527 million.
This move directly counters the IMF’s consistent calls for El Salvador to halt Bitcoin acquisitions, citing potential financial risks associated with large Bitcoin holdings. The IMF's concerns are particularly relevant given El Salvador's ongoing $1.4 billion loan agreement with the organization. While El Salvador recently passed revised Bitcoin regulations as part of this agreement, the country's continued Bitcoin purchases demonstrate a firm commitment to its Bitcoin strategy.
President Bukele's Stance on Bitcoin
President Nayib Bukele has firmly defended El Salvador's Bitcoin policy, reiterating his government's intention to continue acquiring Bitcoin regardless of external pressure. He dismissed speculation that Bitcoin purchases would cease, stating on X (formerly Twitter): “This all stops in April. This all stops in June. This all stops in December. No, it’s not stopping.”
This unwavering stance highlights El Salvador's commitment to its Bitcoin strategy, even after the country officially ended Bitcoin's status as legal tender in February 2025. While the decision has drawn both praise from proponents of financial independence and warnings from those concerned about economic risks, El Salvador's actions suggest a long-term vision for Bitcoin's role in its economy. The long-term effects remain uncertain, however, experts predict ongoing volatility.
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