In an unprecedented financial tug-of-war, El Salvador is betting everything on the global chessboard.

Despite warnings from the IMF and a conditional loan of $1.4 billion, Nayib Bukele persists: the country keeps buying more bitcoin.

In a stunning financial duel, El Salvador is juggling a conditional loan of $1.4 billion from the IMF, which wants the country to stop buying bitcoin, and its integration into the global chessboard. Despite warnings from the International Monetary Fund (IMF) and a staggering conditional loan of $1.4 billion, El Salvador continues to buy bitcoin. The small Central American nation has been accumulating the flagship cryptocurrency since 2021, openly defying the recommendations of the international lender.

As the IMF grants a historic loan to El Salvador, an unsettling clause emerges: halt the purchase of bitcoin. In exchange for vital funds to salvage its battered economy, the government must ultimately renounce its crypto strategy. A demand flatly refused by President Nayib Bukele.

"It won't stop," Bukele insists, pivoting to announce the daily addition of BTC to national reserves. Yet, the agreement signed by the Central Bank of El Salvador with the IMF clearly promises to cease acquisitions of the flagship cryptocurrency. A paradox? Perhaps, but it's a calculated maneuver by the country as it continues to integrate bitcoin into its financial fabric.

Since 2021, El Salvador has been defiantly accumulating BTC, reaching a total of 6,001 bitcoin, openly flouting the IMF's recommendations. In response to the institution's request for total transparency on public wallets, Bukele poses a pointed question: "If it didn't stop when the world turned its back on us, and they said they would sanction us, and the U.S. made Trump put tariffs on us, why now?"

His words carry the weight of a slap in the face for the international lender. Between the lines, the message is clear: El Salvador is using the IMF loan as a shield for its battered economy while persistently pursuing its sovereign quest for bitcoin. A double-edged strategy, where each BTC purchased widens the gap with international creditors and deepens the president's unique vision for his nation.

Since the beginning of 2024, the narrative has taken a dramatic turn. As the urgency of the crisis mounts, the IMF is stepping in to provide a loan that could be pivotal in stabilizing El Salvador's finances. However, the institution's request to halt bitcoin purchases is a bitter pill for Bukele to swallow.

The president's stance is unwavering: he sees bitcoin as an indispensable tool in his broader economic strategy. In his own words, "We are making history. They will talk about this moment in the future, about how this small country in Central America stood up to the empire to use the money that God gave men to create wealth."

His words carry the weight of a revolution, transforming the country into a monetary laboratory. El Salvador becomes a symbol: radical bitcoiners see it as a model to emulate, while institutions regard it as a case study of the dangers of financial disobedience.

The purchases continue, funded by public funds... and perhaps by the IMF loan itself. A cruel irony fills the air as the funds intended to stabilize the economy fuel a dynamic deemed inherently unstable by international institutions.

And yet, even the American markets are faltering, with Trump's tariffs and the closure of the Paycheck Protection Program (PPP) threatening to destabilize a system that had grown accustomed to easy wins.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.