El Salvador Doubles Down on Bitcoin, Defies IMF Amid Market Slump
In a bold move that is lighting up the crypto world, El Salvador is sticking to its guns and its Bitcoin despite pressure from the International Monetary Fund (IMF) to back off. On March 9, 2025, the Nayib Bukele led nation snapped up six more BTC for about $500,000, bringing its total stash to a hefty 6,111 coins, worth over $504 million. This comes as Bitcoin takes a 12% dip, hovering around $80,000, proving El Salvador isn’t afraid to buy the dip while the market sweats.
The IMF, which recently handed El Salvador a $1.4 billion loan lifeline, has been waving red flags about crypto volatility, urging the country to scale back its Bitcoin obsession. They even tried to tie the purse strings to a deal: no voluntary BTC buys, just whatever comes from seizures or legal hauls. But Bukele’s crew isn’t blinking. “If it didn’t stop when the world ostracized us, it won’t stop now,” the president fired off on X, flexing his 7.3 million followers like a digital mic drop.
El Salvador has been at this since making Bitcoin legal tender in 2021, a move that slammed the door on IMF funding for years. Now, with a strategic reserve growing fatter by the day (19 BTC in March alone!), they are not just defying the IMF, they are rewriting the rules of the financial game. Bitcoin City Airport’s groundwork is even underway, signaling this isn’t a fling; it’s a full on crypto marriage.
Love it or hate it, El Salvador’s bet on Bitcoin is a middle finger to the old guard. As the market wobbles, the world is watching: will this tiny nation’s gamble pay off, or will the IMF get the last laugh? One thing is clear, Bukele is not here to play nice.