New Statements About El Salvador and Bitcoin Came From IMF! Will BTC Purchases Stop This Time?

El Salvador, which has accepted Bitcoin as legal currency and signed a loan agreement with the International Monetary Fund (IMF) in recent months.

In exchange for the loan, the IMF wanted to impose a series of restrictions on El Salvador, such as reducing its BTC purchases. However, during this process, El Salvador continued to buy Bitcoin despite the IMF’s pressure to restrict it.

While El Salvador continues to purchase BTC, a new statement came from the IMF.

The IMF announced that the initial review of the $1.4 billion loan agreement has been completed and that it has agreed to pay $120 million to the country in the first phase.

The IMF said on May 27 that as part of the agreement, El Salvador will be required to fulfill its previous obligations to limit government interference in Bitcoin.

The IMF also said it would work to ensure that the amount of Bitcoin held by the government of El Salvador remains unchanged.

“On Bitcoin, the IMF will continue efforts to ensure that the total amount of Bitcoin held in all government wallets remains unchanged.”

This stance contradicts President Nayib Bukele’s statements about increasing the country’s Bitcoin holdings.

The IMF also reiterated its stance that El Salvador should stop accumulating Bitcoin and not engage in any other Bitcoin-related activities.

Bitcoin Purchases Continue Despite IMF!

Shortly after the IMF’s announcement on May 27, El Salvador once again shared that it was purchasing Bitcoin.

El Salvador’s Bitcoin Office reported that the country has once again purchased more Bitcoin from account X.

El Salvador’s Bitcoin reserves currently stand at 6,190.18 BTC, with data showing the country amassing 30 BTC in the last 30 days.

*This is not investment advice.