El Salvador President Nayib Bukele mentioned his authorities gained’t cease shopping for Bitcoin regardless of a brand new request from the Worldwide Financial Fund to cease.
The IMF issued a brand new request on March 3 for an prolonged association underneath its $1.4 billion fund facility to El Salvador, which referred to as on the nation’s public sector to cease voluntarily accumulating Bitcoin (BTC).
“No, it’s not stopping,” Bukele mentioned in a March 4 X put up, confirming El Salvador wouldn’t adjust to the IMF’s request.
“If it didn’t cease when the world ostracized us and most ‘bitcoiners’ deserted us, it gained’t cease now, and it gained’t cease sooner or later,” he added.
Supply: Nayib Bukele
El Salvador continued its buy of a minimum of one Bitcoin per day on March 4 as a part of the Central American nation’s treasury technique.
The IMF’s March 3 memorandum additionally requested El Salvador to cease Bitcoin mining actions and to limit public sector issuance of debt or tokenized devices which can be denominated or listed in Bitcoin.
Whereas Bukele made it clear that El Salvador will proceed stacking Bitcoin, it isn’t clear whether or not the nation would adjust to different requests.
El Salvador’s Nationwide Bitcoin Workplace didn’t instantly reply to a request for remark.
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The nation initially secured a $1.4 billion funding deal from the IMF in December 2024 in trade for scaling again its Bitcoin-related initiatives, amongst different issues.
A few of these measures included making Bitcoin funds voluntarily and making tax funds in US {dollars}.
El Salvador at present holds 6,101 Bitcoin value $534.5 million, based on information from The Nationwide Bitcoin Workplace of El Salvador.
The nation has the sixth-largest Bitcoin stash of any nation-state, trailing solely the US, China, the UK, Ukraine and Bhutan, BitBo’s Bitcoin Treasuries information exhibits.
El Salvador began buying Bitcoin in September 2021, when Bitcoin was made authorized tender — making it the primary nation to take action.
Bitcoin’s standing as authorized tender was narrowed in January when El Salvador handed a legislation in January to make BTC acceptance voluntary for personal sector retailers.
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