The Salvador government continues to arranging Bitcoins (BTC) for its national cryptographic reserve, despite the ongoing agreement with the International Monetary Fund (IMF), which states that the Central American country will cease to employ public funds to buy Bitcoins as one of the terms of the loan agreement.
According to data From the Bitcoin office in El Salvador, the country has acquired an additional seven BTC in the last seven days, increasing the total number of resources to 6173 BTC with a value of over $ 637 million.
The Bitcoin Office in El Salvador continued its enduring pace of Bitcoin’s acquisitions a few months after signing the IMF agreement and has no signs of Bitcoin purchases.
The country of Central America is one of the few nations actively buying bitcoins in open market operations, and its national Bitcoin tax strategy will serve as a plan for other countries, also considering strategic bitcoin reserves, according to cryptographic directors.
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The salvador remains challenging in relation to the pressure of the IMF
In December 2024, El Salvador signed a loan agreement worth $ 1.4 billion from the IMF. As part of this agreement, the government of the country agreed to cancel the Act on the legal offer of Bitcoins and make bitcoin payments voluntary.
The agreement also stated that El Salvador must reduce the accumulation of bitcoins, refraining from using public funds to finance Bitcoin purchases.
In addition, the contract required the government to privatize the Chivo portfolio, which was financed publicly, but did not record any employ among residents.
In January 2025, legislators in the Central American country repealed the Act on the legal value of Bitcoin in 55-2 congress voting, although it did nothing to stop, Bitcoin’s snail-paced acquisitions.
https://www.youtube.com/watch?v=6Te6J20-XEY
The IMF issued another application to the country to stop Bitcoin Buys in March 2025, repeating the original terms of the contract. However, the president of Salvador, Nayib Bukele, pushed himself to the conclusions.
Bukele emphasized that the country would not stop Bitcoins’ purchases or snail-paced BTC accumulation in the face of growing pressure from a supranational financial institution.
“No, it does not stop. If it has not stopped when the world ruled out and most” bitcoiners “will abandon us, will not stop now and stop in the future,” wrote Bukele on March 4 post.
Warehouse: The national boss of Bitcoin in El Salvador was an orange Argentina
