NEWSLETTER
The president of El Salvador, Nayib Bukele, said his government will not stop buying bitcoin despite a new request from the International Monetary Fund to stop.
The IMF issued a new application on March 3 for an agreement extended under its installation of funds of $ 1.4 billion to El Salvador, which asked the public sector to cease to voluntarily accumulate bitcoin (btc).
“No, it is not stopping,” Bukele said in a March x <a target="_blank" data-ct-non-breakable="null" href="https://x.com/nayibbukele/status/1897019629702410551″ rel=”null” target=”null” text=”null” title=”null”>mailConfirm El Salvador would not comply with the IMF request.
“If it did not stop when the world condemned us with the world and most of the 'bitcoiners' abandoned us, it will not stop now, and will not stop in the future,” he added.
Fountain: <a target="_blank" data-ct-non-breakable="null" href="https://x.com/nayibbukele/status/1897019629702410551″ rel=”null” target=”null” text=”null” title=”null”>Nayib Bukele
El Salvador Continued STI <a target="_blank" data-ct-non-breakable="null" href="https://x.com/bitcoinofficesv/status/1897000044332716089″ rel=”null” target=”null” text=”null” title=”null”>buys of at least one bitcoin per day on March 4 as part of the strategy of the Treasury of the Central American country.
The memorandum of March 3 of the IMF also asked El Salvador to stop the mining activities of bitcoin and restrict the issuance of the public sector of debt or tokenized instruments that are called or indexed in bitcoin.
While Bukele made it clear that El Salvador will continue to stack bitcoin, it is not clear if the country would comply with other requests.
The bitcoin National Office of El Salvador did not immediately respond to a request for comments.
Related: bitcoin, cryptographic companies move to El Salvador, but success travels in bank access
Initially, the country obtained a financing agreement of $ 1.4 billion of the IMF in December 2024 in exchange for reducing its bitcoin related initiatives, among other things.
Some of these measures included voluntarily bitcoin payments and making tax payments in US dollars.
El Salvador currently has 6,101 bitcoin worth $ 534.5 million, <a target="_blank" data-ct-non-breakable="null" href="https://bitcoin.gob.sv/” rel=”null” target=”null” text=”null” title=”null”>according to the data of the National Office of bitcoin of El Salvador.
The country has the sixth largest bitcoin's stash of any state-nation, only the United States, China, the United Kingdom, Ukraine and Bután, bitcoin's treasures of Bitbo data shows.
El Salvador began buying bitcoin in September 2021, when bitcoin became legal, which makes him the first country to do so.
The state of bitcoin as a legal tender was reduced in January when El Salvador approved a law in January to make btc voluntary for private sector merchants.
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