El Salvador’s Bitcoin Commitment Unwavering Despite IMF Terms

President Bukele of El Salvador reaffirmed the country’s commitment to Bitcoin purchases despite an IMF deal that restricts further acquisitions. The IMF’s conditions include halting Bitcoin mining and new purchases by public entities. Bukele’s government continues to expand its Bitcoin holdings, recently adding to its stockpile amidst both internal and external pressures.

El Salvador’s financial arrangement with the International Monetary Fund (IMF) includes a clause that restricts the nation from acquiring additional Bitcoin. Despite this, President Nayib Bukele asserts that the country is committed to continuing its Bitcoin purchases regardless of the IMF’s stipulations. Bukele’s stance reflects a robust commitment to Bitcoin, stating that no external pressures will alter this course.

The IMF’s new conditions, set within a 40-month, $1.4 billion Extended Fund Facility for El Salvador, were articulated in a report released in March 2025. These conditions reinforce existing prohibitions on government Bitcoin activities while allowing for retention of current holdings. Notably, the agreement bars new Bitcoin acquisitions and the public sector from mining activities.

In response to the IMF’s terms, President Bukele expressed his unwavering support for Bitcoin in a recent post on X. He emphasized that the country’s Bitcoin strategy is irreversible despite various forecasts predicting cessation. Bukele remarked, “This all stops in April… No, it’s not stopping.”

El Salvador’s commitment to Bitcoin was evidenced by its recent addition of five BTC to its reserves as of March 4, raising its total to 6,101 BTC, approximately valued at $530 million due to current market fluctuations. This positions El Salvador as the sixth largest holder of Bitcoin among nations, surpassed only by the United States, China, the United Kingdom, Ukraine, and Bhutan.

Since becoming the first country to designate Bitcoin as legal tender in September 2021, El Salvador faced substantial criticism, particularly after narrowing the legal tender status to voluntary acceptance for private sector entities early this year. Yet, support for Bukele’s Bitcoin initiative has emerged from influential figures, such as Michael Saylor, co-founder of Strategy, who emphasized the unstoppable trajectory of Bitcoin adoption.

In summary, President Bukele of El Salvador remains resolute in his commitment to Bitcoin, despite constraints imposed by the IMF related to the nation’s financial agreement. The Bitcoin strategy being pursued will continue, as demonstrated by recent purchases and strong public statements. This illustrates El Salvador’s prominent position in the global Bitcoin landscape, advocating for the cryptocurrency’s potential amidst challenges.

Original Source: zycrypto.com