El Salvador President Nayib Bukele Says the Country Will Continue Buying Bitcoin Daily

YEREVAN (CoinChapter.com) — El Salvador President Nayib Bukele said the country will continue buying Bitcoin daily, despite pressure from the International Monetary Fund (IMF).

El Salvador will continue buying Bitcoin daily, despite pressure from the International Monetary Fund (IMF), President Nayib Bukele said on Saturday.

The IMF has requested that El Salvador’s public sector stop accumulating BTC in a new memo seen by CoinChapter.com on Friday as part of its 1.4 billion dollar loan agreement.

However, Bukele responded on Saturday that the Bitcoin purchases will proceed.

“No, it’s not stopping. 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,” Bukele wrote on X.

El Salvador's Bitcoin Strategy Continues Amid IMF Pressure

El Salvador continued its Bitcoin buying strategy on Saturday, purchasing one BTC per day as part of its treasury reserves plan. The country began this daily purchase policy in November 2022 and has maintained it despite external pressure.

According to the National Bitcoin Office of El Salvador, the country now holds 6,101 BTC, valued at approximately $534.5 million. This makes El Salvador the sixth-largest Bitcoin-holding nation, trailing the United States, China, the United Kingdom, Ukraine, and Bhutan, based on BitBo's Bitcoin Treasuries data.

The IMF's March 3 memorandum also urged El Salvador to cease Bitcoin mining activities and limit public sector issuance of debt or tokenized financial instruments denominated in Bitcoin.

IMF's $1.4 Billion Loan Linked to Bitcoin Restrictions

El Salvador secured a $1.4 billion funding agreement from the IMF in December 2024, with conditions to reduce its Bitcoin-related policies. These included making Bitcoin payments optional and requiring tax payments in U.S. dollars rather than BTC.

In September 2021, El Salvador became the first country to adopt Bitcoin as legal tender, integrating it into its financial system. However, in January 2024, the government shifted its policy, making Bitcoin acceptance voluntary for private businesses instead of mandatory.

El Salvador's Response to IMF's Other Requests Unclear

While Bukele confirmed that Bitcoin accumulation will continue, the government has yet to comment on the IMF's other demands, including limiting Bitcoin mining and public sector debt linked to Bitcoin.

The National Bitcoin Office of El Salvador has not yet released an official statement regarding these additional IMF requests.

El Salvador's Bitcoin policy remains a subject of observation, with financial organizations monitoring its approach to cryptocurrency adoption alongside traditional financial obligations.