El Salvador’s Bitcoin Accumulation Continues Undeterred by IMF Pressure

El Salvador has acquired an additional 13 Bitcoin since March 1, raising its total to over 6,105 BTC, valued at more than $527 million. The government continues to defy IMF pressures regarding its Bitcoin policy, with President Bukele rejecting demands to cease accumulation. The country’s stance is encouraging major crypto firms, such as Bitfinex and Tether, to relocate to El Salvador, showcasing a robust crypto-friendly regulatory environment.

In defiance of the International Monetary Fund’s (IMF) pressure, El Salvador has continued to accumulate Bitcoin, adding 13 BTC since March 1. As of now, the nation holds over 6,105 BTC, valued at over $527 million. Typically acquiring Bitcoin at a rate of 1 BTC daily, El Salvador made a notable increase on March 3 by purchasing 5 BTC in one day.

El Salvador’s controversial Bitcoin policy follows a $1.4 billion loan agreement with the IMF in December 2024, which mandated the country to revoke Bitcoin’s legal tender status and reduce public sector engagement with cryptocurrency. In January 2025, the Congress complied with these requirements by repealing its previous Bitcoin legislation with a 55-2 vote. However, the government has persisted in its Bitcoin acquisition strategy.

Despite the IMF’s escalating demands, including halting Bitcoin purchases and restricting debt issuance tied to Bitcoin, President Nayib Bukele has firmly rejected these stipulations. He emphasized that El Salvador would continue to accumulate Bitcoin, dismissing the IMF’s concerns as mere “whining.” Bukele stated, “If we didn’t stop when the world ostracized us and most ‘bitcoiners’ abandoned us, we won’t stop now, and we won’t stop in the future.”

El Salvador’s steadfast Bitcoin policy is attracting significant interest from cryptocurrency firms. For instance, on January 7, Bitfinex Derivatives announced its relocation to El Salvador, followed closely by Tether’s decision to establish its headquarters there as well. This influx signifies a growing interest within the crypto industry aimed at capitalizing on El Salvador’s unique regulatory approach.

In summary, El Salvador’s ongoing commitment to Bitcoin accumulation despite IMF pressures highlights its determination to maintain its cryptocurrency strategy. President Bukele’s staunch rebuttal of the IMF’s demands and the influx of crypto firms relocating to the country illustrate a significant shift in the region’s economic landscape. El Salvador’s actions may set a precedent for other nations considering similar cryptocurrency strategies.

Original Source: www.binance.com