El Salvador Continues to Prioritize Bitcoin, Buys 11 BTC Despite IMF Loan Agreement

Once again, El Salvador demonstrates its commitment to Bitcoin. Just one day after signing a $1.4 billion loan with the IMF, the country has

El Salvador purchased 11 additional BTC on December 19, bringing the country's total reserves to 5,980 BTC.

This move comes despite an IMF agreement that restricts large-scale Bitcoin transactions and requires El Salvador to sell or phase out its Chivo wallet.

However, the government plans to continue using Bitcoin as a "main strategy," highlighting its importance in El Salvador's economic vision.

El Salvador continues to strengthen its commitment to Bitcoin (BTC), despite recent challenges and limitations imposed by the International Monetary Fund (IMF).

Following a $1.4 billion loan agreement with the IMF, the country's National Bitcoin Office has announced the latest addition of 11 BTC to its strategic reserves. This brings El Salvador's total reserves to 5,980 BTC, valued at approximately $580 million at current market prices.

The IMF agreement aims to limit government involvement in large-scale Bitcoin transactions and reduce the state's role in promoting the cryptocurrency. Additionally, the government plans to sell or phase out its Chivo wallet, shifting the responsibility for BTC adoption to the private sector.

However, a spokesperson for the Bitcoin Office emphasized the government's continued focus on Bitcoin, stating, "BTC remains our main strategy."

This move highlights the government's determination to integrate Bitcoin into the country's economic fabric, despite the challenges posed by the IMF agreement. As the crypto community observes these developments, El Salvador's approach could pave the way for broader crypto adoption by other nations.