According to Deep Tide TechFlow, the International Monetary Fund (IMF) stated that it will continue to ensure that the number of bitcoins held by the Salvadoran government remains unchanged. In March of this year, El Salvador reached a $3.5 billion loan agreement with the IMF, which limits the status and accumulation of bitcoin. According to the agreement, bitcoin lost its legal tender status, and merchants are no longer required to accept bitcoin payments.
Nevertheless, El Salvador continues to increase its bitcoin holdings. Since the agreement was announced on March 4, the number of bitcoins held by the government has risen from 6,101.15 to 6,189.18, worth approximately $678 million. President Bukele stated that he will not stop purchasing bitcoin. The IMF report indicated that the plan is being implemented well, and key fiscal and reserve targets have been met.
