El Salvador Acquires Additional 6 Bitcoins Despite IMF Deal to Limit BTC Purchases
El Salvador has purchased an additional 5 Bitcoins on Sunday, apart from the usual 1 BTC per day. The accumulation arrives days after the Central American nation acquired 5 BTC, amid a market dip.
According to the nation’s Bitcoin Office, the recent accumulation adds up to the country’s BTC stash, to a total of 6,111.18 BTC, worth about $504 million at current price.
— The Bitcoin Office (@bitcoinofficesv) March 9, 2025
El Salvador buys 5 more bitcoin this afternoon!
Total SBR Holdings: 6,111.18 BTC
Check it outpic.twitter.com/Pk7NBEt9WR
The additional purchases represent a significant expansion of the country’s BTC stockpile, which stood at approximately 5,700 BTC at the beginning of 2025.
President Nayib Bukele recently clarified that their BTC accumulation strategy is not stopping. In a statement last week, he clarified his 7.3 million followers on X that El Salvador won’t stop its BTC accumulating strategy.
“If it 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,” he wrote.
El Salvador Bypasses IMF’s Condition to Limit BTC Purchases
On February 17, the International Monetary Fund (IMF) approved a $1.4 billion loan to El Salvador, which includes the condition to reduce its Bitcoin purchases.
The IMF has cited volatility risks, fiscal vulnerabilities, and potential implications for financial stability as primary concerns in its ongoing discussions with the Central American nation.
Following the loan, the nation’s Legislative Assembly approved a bill to revise Bitcoin adoption strategy, complying to the IMF’s requirements. Per Reuters, the bill was approved by Congress with 55 votes in favor and two votes against.
Despite the pressure, El Salvador has maintained its course, continuing to accumulate Bitcoins. Further, the government maintains that its dollar-based economy remains stable alongside the Bitcoin implementation.
A Test Case for Crypto Adoption
El Salvador has been building the Bitcoin City Airport that aims to link Bitcoin City to the rest of the world. In February, the country began building the transportation hub, as reported by Cryptonews.
Dubbed Pacific Airport, the official press agency of the nation recently released a video of its President Nayib Bukele, laying the foundation of the hub.
The post El Salvador Acquires Additional 6 Bitcoins Despite IMF Deal to Limit BTC Purchases appeared first on Cryptonews.
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El Salvador Acquires Additional 6 Bitcoins Despite IMF Deal to Limit BTC Purchases
El Salvador has purchased an additional 5 Bitcoins on Sunday, apart from the usual 1 BTC per day. The accumulation arrives days after the Central American nation acquired 5 BTC, amid a market dip.
According to the nation’s Bitcoin Office, the recent accumulation adds up to the country’s BTC stash, to a total of 6,111.18 BTC, worth about $504 million at current price.
— The Bitcoin Office (@bitcoinofficesv) March 9, 2025
Check it out
The additional purchases represent a significant expansion of the country’s BTC stockpile, which stood at approximately 5,700 BTC at the beginning of 2025.
President Nayib Bukele recently clarified that their BTC accumulation strategy is not stopping. In a statement last week, he clarified his 7.3 million followers on X that El Salvador won’t stop its BTC accumulating strategy.
“If it 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,” he wrote.
El Salvador Bypasses IMF’s Condition to Limit BTC Purchases
On February 17, the International Monetary Fund (IMF) approved a $1.4 billion loan to El Salvador, which includes the condition to reduce its Bitcoin purchases.
The IMF has cited volatility risks, fiscal vulnerabilities, and potential implications for financial stability as primary concerns in its ongoing discussions with the Central American nation.
Following the loan, the nation’s Legislative Assembly approved a bill to revise Bitcoin adoption strategy, complying to the IMF’s requirements. Per Reuters, the bill was approved by Congress with 55 votes in favor and two votes against.
Despite the pressure, El Salvador has maintained its course, continuing to accumulate Bitcoins. Further, the government maintains that its dollar-based economy remains stable alongside the Bitcoin implementation.
A Test Case for Crypto Adoption
El Salvador has been building the Bitcoin City Airport that aims to link Bitcoin City to the rest of the world. In February, the country began building the transportation hub, as reported by Cryptonews.
Dubbed Pacific Airport, the official press agency of the nation recently released a video of its President Nayib Bukele, laying the foundation of the hub.
The post El Salvador Acquires Additional 6 Bitcoins Despite IMF Deal to Limit BTC Purchases appeared first on Cryptonews.
Read More