El Salvador buys 1 BTC daily, despite the IMF urging a halt due to loan conditions.
Current BTC holdings exceed 6,100 coins, worth over $570 million.
The government has not disclosed funding sources, raising compliance concerns.
El Salvador’s government continues to acquire Bitcoin daily, even as the International Monetary Fund (IMF) has asked the country to halt further purchases under the terms of a $1.4 billion loan agreement.
Recent remarks from Economy Minister Maria Luisa Hayem confirmed the government’s ongoing acquisition, despite prior reports suggesting compliance with the IMF’s request. The disclosure has stirred fresh scrutiny about the status of the agreement and the sources of Bitcoin funding.
Government Accumulates BTC Daily Using Undisclosed Sources
Data from the Salvadorian government’s official Bitcoin office confirms that one Bitcoin is added to its reserve each day. These daily purchases persist, though the exact source of funding remains undisclosed.
As of now, the country holds more than 6,100 BTC, estimated to be worth over $570 million. Reports from CryptoNewsLand previously reported that El Salvador had paused public sector BTC purchases to meet IMF conditions.
However, the economy minister’s statement suggests that acquisitions have resumed or never stopped entirely. The nation had earlier stated it would not use public funds for further Bitcoin buys. Nevertheless, the ongoing accumulation raises questions about how these transactions are being financed.
IMF Conditions Conflict With Daily BTC Acquisitions
The IMF deal specifically limits El Salvador from continuing Bitcoin purchases under its current fiscal conditions. The Fund has expressed concerns about debt levels and compliance with reform measures. The continuation of daily BTC accumulation, even with non-public funding, conflicts with the spirit of the agreement.
Despite these concerns, the government has not explained how it reconciles these acquisitions with the IMF terms. The lack of transparency continues to raise concerns among global financial observers.
The IMF has not issued a recent statement following the Economy Minister’s latest comments. The country’s Bitcoin strategy now stands under a renewed spotlight, especially as the broader crypto market surges.
Ongoing discussions between El Salvador and the IMF are expected to address these new developments. Meanwhile, questions remain over the compliance status of the nation’s Bitcoin activities under the $1.4 billion agreement.
