EL SALVADOR BOUGHT 240 BITCOINS SINCE ITS NON-ACCUMULATION AGREEMENT WITH THE IMF

El Salvador, the first country in the world to adopt $BTC as legal tender, has continued to buy the cryptocurrency despite a loan agreement of USD 1.4 billion with the International Monetary Fund (IMF) that included provisions discouraging further accumulation.

The government’s treasury wallet currently holds 6,209 bitcoins ($BTC ), having added 240 bitcoins since December 19, 2024, after the agreement with the IMF was announced, according to data from El Salvador's Bitcoin Office.

In December, El Salvador reached an agreement with the IMF to obtain a loan of USD 1.4 billion, which required the government to renounce the status of Bitcoin as legal tender and stop its public accumulation of $BTC .

Still, the country has continued to buy one BTC a day, a strategy introduced by President Nayib Bukele in 2022.

When asked about the purchases, Rodrigo Valdés, director of the Western Hemisphere Department of the IMF, said that the country is still technically meeting the requirements. "El Salvador continues to fulfill its commitment not to accumulate bitcoins by the fiscal sector in general," Valdés said at a press conference on April 26.

Others point out that the "flexible" interpretation of the agreement with the IMF is key for El Salvador to continue its acquisitions.