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El Salvador’s Nayib Bukele Says Bitcoin Purchases Would Stand Amid Fresh IMF Pressure
El Salvador’s Nayib Bukele Says Bitcoin Purchases Would Stand Amid Fresh IMF Pressure
March 5, 2025
elsalvador, IMF and bitcoin
El Salvador has remained defiant on stacking Bitcoin despite renewed pressure from the International Monetary Fund.
Its president, Nayib Bukele, has insisted that the public sector’s Bitcoin purchases would continue. In a Tuesday tweet, he explicitly stated that the 1 BTC per day acquisition is not stopping.
“‘This all stops in April.’ ‘This all stops in June.’ ‘This all stops in December’ No, it’s not stopping,” Bukele tweeted.
IMF Further Fuels Ploy to Halt El Salvador’s Bitcoin Program
Meanwhile, El Salvador has maintained its pro-Bitcoin stance amid persistent pressure from the IMF. Recently, the global watchdog took the charge to stop the Central American nation from meddling with Bitcoin a step further.
In its ongoing $1.4 billion loan deal with El Salvador, the IMF laid out new rules the nation should abide by to secure the funds. Per a March 3 release, the small nation’s public sector will cease its voluntary Bitcoin acquisitions.
Furthermore, it would end all Bitcoin mining activities, terminate its participation in the Chivo wallet system, and make its wallet addresses public. The IMF further required El Salvador’s public sector to discontinue any form of asset or Treasury tokenization denominated in Bitcoin.
The IMF emphasized that El Salvador’s allegiance to this new requirement would determine whether its extended fund facility program would pull through. In simple terms, El Salvador must stop its daily BTC purchases to receive funding from the global watchdog.
Bukele Responds with New Bitcoin Purchase
Nonetheless, Bukele responded with another 1 BTC purchase yesterday. His post quoted an announcement from the Bitcoin office showing that the nation has continued its purchases, taking its stash to 6,101 BTC.
Furthermore, the pro-Bitcoin president insisted that if El Salvador did not abandon this program when the world ostracized the nation because it adopted the pioneering cryptocurrency, it would not stop now. He reiterated his long-term commitment to stacking BTC.
Meanwhile, Strategy’s executive chairman, Michael Saylor, cheered the defiance, insisting the adoption of the orange pill cannot be mutilated.
“Bitcoin adoption is unstoppable,” Saylor responded.
Bitcoin adoption is unstoppable.
— Michael Saylor⚡️ (@saylor) March 4, 2025
While El Salvador has revised its Bitcoin laws, including limiting public sector exposure and voluntary tax payment in US dollars, it seems bent on sticking to its daily BTC accrual. Data from its portfolio tracker shows that its stash currently sits at a profit of over $131 million.
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