🇸🇻 El Salvador Defies IMF with New Bitcoin Purchase
El Salvador has once again reinforced its pro-Bitcoin stance, adding to its national crypto reserves shortly after concluding a key $1.4B loan review with the International Monetary Fund (IMF). The new acquisition brings the country’s total holdings to around 6,200 BTC, valued at over $674 million.
While the IMF acknowledged El Salvador’s progress on economic reforms, it reiterated its call to halt public sector Bitcoin purchases. However, El Salvador continues to sidestep this restriction by operating its Bitcoin Office outside the official fiscal sector, allowing routine purchases without breaching IMF loan conditions.
The IMF has set a July deadline for reducing government involvement in the state-run Chivo wallet, part of broader efforts to limit crypto-related financial risk. Despite these pressures, President Bukele remains steadfast in his Bitcoin strategy, keeping BTC as an optional legal payment method even after reforms removed its mandatory status.
This move underscores El Salvador’s commitment to crypto adoption, navigating around formal restrictions while maintaining its Bitcoin-first identity on the global stage.
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