El Salvador’s Commitment to Bitcoin Purchases Reinforced by President Bukele
President Nayib Bukele of El Salvador has affirmed that the nation will persist in acquiring Bitcoin despite limitations imposed by a new IMF agreement. The IMF’s deal restricts government Bitcoin activities and prohibits further BTC purchases. Bukele’s administration has recently added more Bitcoin to its reserves, evidencing its ongoing commitment to cryptocurrency amidst both support and criticism from the global Bitcoin community.
El Salvador’s President Nayib Bukele has declared that the country will continue its Bitcoin acquisitions despite a clause in the recent financing deal with the International Monetary Fund (IMF), which prohibits new Bitcoin purchases. This finance agreement, encompassing $1.4 billion under the Extended Fund Facility (EFF), imposes strict regulations on governmental Bitcoin engagements while permitting the retention of existing Bitcoin holdings.
The IMF’s latest arrangement, highlighted in a March 2025 Country report, instructs El Salvador to cease Bitcoin mining and restricts public sector entities from acquiring additional BTC. President Bukele has openly rejected these stipulations, reinforcing his commitment to the nation’s Bitcoin strategy. He gave a resolute statement via social media, asserting, “This all stops in April. … No, it’s not stopping.”
El Salvador recently added 5 BTC to its reserves on March 4, increasing its holdings to 6,101 BTC, valued at approximately $530 million at current market rates. This places El Salvador among the top six nations in Bitcoin holdings, following the U.S., China, U.K., Ukraine, and Bhutan. Since becoming the first country to recognize Bitcoin as legal tender in September 2021, El Salvador’s approach has seen mixed responses, yet it continues to attract interest in the cryptocurrency community.
While Bukele’s Bitcoin initiative had previously received significant backlash, he has also gained allies within the cryptocurrency domain. Notable figures such as Michael Saylor, co-founder and executive chairman of Strategy, have voiced their support, emphasizing that “Bitcoin adoption is unstoppable.” This highlights the ongoing divide in perceptions regarding Bitcoin’s potential in national economies.
In summary, President Nayib Bukele’s steadfast commitment to Bitcoin acquisition, even in the face of IMF restrictions, underscores El Salvador’s unique position in the cryptocurrency landscape. Despite challenges and criticisms, the country continues to expand its Bitcoin reserves, which speaks to Bukele’s vision and the growing support from key figures in the crypto industry. The future of Bitcoin in El Salvador remains promising as it navigates compliance with international financial partnerships while championing innovative economic approaches.
Original Source: zycrypto.com
