News

El Salvador Doubles Down on Bitcoin Despite IMF Warnings

Despite being asked by the IMF to halt its Bitcoin accumulation endeavour amid loan agreement limitations, El Salvador continues buying.
Published by
El Salvador Doubles Down on Bitcoin Despite IMF Warnings

Highlights

  • El Salvador continues to buy BTC despite being asked to stop by the IMF.
  • The Salvadorian government's Bitcoin office data shows that 1 BTC is being accumulated each day.
  • However, the Central American nation halted to buy BTC with public sector funds.

Central American nation El Salvador continues to prioritize Bitcoin despite a recent warning from the International Monetary Fund (IMF). The nation’s economic minister on Wednesday said that despite being asked to reduce its BTC purchases in light of a $1.4 billion loan agreement, Bukele’s government is still accumulating. The IMF, however, had recently claimed that the Salvadorian government was complying with loan conditions.

Advertisement

Nayib Bukele’s El Salvador In Breach Of IMF Loan Agreement?

El Salvador’s Economy Minister Maria Luisa Hayem has recently assured that Bukele’s government is still buying BTC despite being asked to reduce its purchases. The IMF’s $1.4 billion loan agreement prohibits the entity from doing so.

However, data from the Salvadorian government’s Bitcoin office shows that the nation continues to purchase 1 BTC every day. To this date, Bukele’s government holds over 6100 BTC valued at over $570 million.

On the contrary, a recent report by CoinGape revealed that El Salvador complied with the loan conditions. Notably, the Central American country paused its BTC purchases with public sector funds recently, abiding by the IMF’s loan agreement.

However, the Salvadorian economy minister’s recent comments have stirred up contrary discussions on the matter.

Meanwhile, the broader market’s bullish action has added an optimistic tint to Bukele’s Bitcoin accumulation venture. BTC price today traded at the $95K price level as of press time, gradually nearing previous highs.

Notably, El Salvador’s Bitcoin holdings also continue to rise in tandem with this broader rising price action. On the other hand, the Salvadorian government has not disclosed its current sources for BTC accumulation. As a result, while global market watchers are left speculating, the IMF blames the nation for not keeping the accord.

Nevertheless, BTC continues to secure a hotspot on institutions’, nations’, and investors’ radars, showcasing the potential for massive returns ahead.

Advertisement
Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Solana, Litecoin, HBAR ETFs by Bitwise, Canary, and Grayscale to Start Trading This Week

Exchanges have filed listing notices for Bitwise Solana Staking ETF (BSOL), Canary Litecoin ETF (LTCC),…

October 28, 2025
  • News

Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”

Crypto market analyst Adam Livingston has sharply criticized S&P Global Ratings after the agency assigned…

October 28, 2025
  • News

Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain

In a fresh development, a newly registered claim domain has led to speculations that the…

October 27, 2025
  • News

$2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments

Citigroup, a top U.S. bank with $2.5 trillion asset under management has partnered with Coinbase.…

October 27, 2025
  • News

Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates

U.S. Treasury Secretary Scott Bessent has confirmed the final shortlist of contenders to replace Jerome…

October 27, 2025
  • News

Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC

Mt. Gox has once again pushed back its long-awaited Bitcoin (BTC) creditor repayments by a…

October 27, 2025