The president of El Salvador, Nayib Bukele, confirmed that the country will continue to buy bitcoin (BTC), despite the limitations imposed by the International Monetary Fund (IMF). In a post on X, Bukele stated that BTC will be purchased as a strategic reserve for the country ยน.
This decision is not surprising, considering that El Salvador was the first country to accept BTC as official currency, alongside the dollar, in 2021 ยน. The country has the sixth largest Bitcoin reserve among governments in the world and began buying BTC in September 2021 ยฒ.
However, the IMF has pressured El Salvador to reconsider its decision to accept BTC as official currency, citing potential risks ยณ. Recently, the IMF issued a new request for an extended arrangement that includes the condition of "no voluntary accumulation of BTC by the public sector in El Salvador" ยณ.
Despite this, Bukele reinforced his long-term vision for Bitcoin in the country, stating that "no one is going to make us stop buying Bitcoin" โด.
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