President Nayib Bukele of El Salvador proclaims that the country will continue its Bitcoin purchases despite an IMF deal prohibiting additional acquisitions. The IMF’s conditions include a ban on mining and public sector purchases. Bukele asserts the nation’s stance on Bitcoin remains unchanged, further backed by prominent figures in the cryptocurrency industry.
El Salvador’s President Nayib Bukele remains resolute regarding the country’s Bitcoin purchases, despite a recent financing deal with the International Monetary Fund (IMF) that prohibits additional BTC acquisitions. This new agreement, worth $1.4 billion and extending over 40 months, imposes stringent conditions, but Bukele emphasizes El Salvador’s commitment to continuing its Bitcoin strategy regardless of the IMF’s stipulations.
The IMF’s conditions, as outlined in a Country report published in March 2025, include a ban on Bitcoin mining and any new purchases by public sector entities, while explicitly allowing the retention of existing holdings. Bukele has publicly rejected these restrictions, asserting that El Salvador will not cease its Bitcoin accumulation, stating on X, “If it didn’t stop when the world ostracized us and most ‘bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future.”
On March 4, El Salvador added an additional 5 BTC to its already substantial holdings, bringing the total to 6,101 BTC, valued at approximately $530 million. This positions the nation as possessing the sixth-largest national Bitcoin reserve globally, following the United States, China, the United Kingdom, Ukraine, and Bhutan. El Salvador, having made Bitcoin legal tender in September 2021, amended this status in January to allow voluntary acceptance by private merchants.
Despite previous criticisms of his Bitcoin initiatives, Bukele has garnered backing from significant figures in the cryptocurrency community. Michael Saylor, co-founder and executive chairman of Strategy, expressed support for Bukele’s stance, declaring on X, “Bitcoin adoption is unstoppable.” Thus, El Salvador’s leadership in adopting Bitcoin continues amid criticisms and pressure from international financial institutions.
In summary, President Nayib Bukele of El Salvador has unequivocally stated his intention to continue acquiring Bitcoin, despite the IMF’s prohibitive conditions. The country has solidified its position as a key player in the global cryptocurrency landscape, holding the sixth-largest Bitcoin reserve while adapting its legal framework. With backing from prominent Bitcoin advocates, Bukele’s defiance against the IMF reflects a steadfast commitment to advancing Bitcoin adoption.
Original Source: zycrypto.com
