El Salvador Continues Bitcoin Accumulation Despite IMF Pressure

El Salvador has been boldly expanding its Bitcoin (BTC) reserves, defying pressures from the International Monetary Fund (IMF) to halt its accumulation of the cryptocurrency. Since March 1, 2025, the country has added 13 BTC to its national reserves, bringing its total Bitcoin treasury to over 6,105 BTC, which is valued at more than $527 million based on current market prices.

Daily Bitcoin Purchases Continue Despite IMF Agreement

Typically, El Salvador has maintained a routine of purchasing one Bitcoin daily. However, on March 3, the nation deviated from its usual pattern by acquiring five BTC in a single day. This purchase is particularly notable given the backdrop of a December 2024 agreement signed with the IMF, under which El Salvador secured a $1.4 billion loan. As part of this agreement, the government agreed to rescind Bitcoin’s status as legal tender and promised to limit the public sector’s involvement in cryptocurrency.

Legislative Changes Yet Persistent Bitcoin Strategy

To comply with IMF regulations, El Salvador’s government revised its Bitcoin laws in January 2025. The Congress voted to repeal previous legislation with a significant majority of 55-2. Despite these changes, President Nayib Bukele’s administration has continued its aggressive Bitcoin acquisition strategy.

On February 1, the nation purchased two Bitcoins in one day and has consistently engaged in daily acquisitions, demonstrating a refusal to yield to international pressure. On March 3, the IMF escalated its demands, insisting that El Salvador cease its Bitcoin purchases altogether and disallow the issuance of debts or tokenized securities linked to Bitcoin.

President Bukele Stands Firm Against IMF Demands

In a resolute response to the IMF’s demands, President Nayib Bukele made it clear that El Salvador’s commitment to its Bitcoin strategy will not waver. "This all stops in April. This all stops in June. This all stops in December. No, it’s not stopping," he proclaimed in a tweet on March 4. He further emphasized, "If we didn’t stop when the world ostracized us and most ‘bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future." This unwavering stance has fostered a climate of optimism and growth in the local crypto industry, attracting significant investments.

Crypto Companies Flock to El Salvador

The Salvadoran government’s steadfast pro-Bitcoin posture has led to an influx of major cryptocurrency companies setting up operations in the country. Notably, Bitfinex Derivatives announced on January 7 that it would relocate from the Seychelles to El Salvador, followed by stablecoin issuer Tether, which decided to establish its headquarters in El Salvador on January 13. ## El Salvador’s Bold Path Forward in the Crypto Space

Despite the IMF’s unwavering pressure and the necessary legislative changes, El Salvador remains committed to its strategy of Bitcoin acquisition and fostering a crypto-friendly environment. The country’s government is resolute in continuing its pro-Bitcoin policies, aiming to propel its economy into the forefront of the global cryptocurrency landscape, regardless of external challenges.

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As El Salvador forges ahead with its Bitcoin ambitions, the world watches closely, intrigued by the potential implications for the future of cryptocurrencies and international financial relations.