The El Salvador Treasury acquired 7 Bitcoin (BTC) worth over 650,000$ in the seven days leading up to April 27, according to blockchain data shared by the country’s Bitcoin Office.

Rodrigo Valdes, Director of the IMF’s Western Hemisphere Department, confirmed during an April 26 press briefing that El Salvador is still complying with the agreement prohibiting Bitcoin accumulation by the government sector. “The El Salvador program is not just about Bitcoin, it involves deeper structural reforms, governance improvements, and enhanced transparency,” Valdes said.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

In December 2024, El Salvador signed a deal with the IMF for a 1.4 billion dollar loan, which required the government to drop Bitcoin’s legal tender status and halt additional BTC purchases.

Flexible Interpretation Leaves Room for Bitcoin Buys

Intergovernmental blockchain advisor and author Anndy Lian explained that the IMF deal might allow non-governmental entities to continue acquiring Bitcoin. “The flexible interpretation allows Bitcoin purchases through non-public sector assets or reclassified investments,” Lian said.

This strategy enables El Salvador to maintain its Bitcoin-friendly image while meeting IMF funding requirements. Lian also emphasized that El Salvador’s experience offers critical lessons for other nations considering crypto adoption.

El Salvador’s case highlights the tension between financial innovation and traditional economic frameworks, underlining the importance of strong regulatory frameworks and robust state capacity to withstand international financial pressures.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post El Salvador Continues Bitcoin Purchases! appeared first on Coin Engineer.

El Salvador signed a $1.4 billion loan deal with the IMF in December 2024. As part of the agreement, the government pledged to revoke Bitcoin’s legal tender status and reduce public sector involvement with BTC. However, data shows the government is continuing its daily purchases.

Total Reserves Reach 6,105 Bitcoin

According to the El Salvador Bitcoin Office, the country’s Bitcoin treasury now holds 6,105 BTC, valued at more than $527 million at current prices. The country usually acquires 1 BTC per day but made a bulk purchase of 5 BTC on March 3.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Bukele: “We Will Not Stop Buying”

On March 3, the IMF issued a new request pressuring El Salvador to stop accumulating Bitcoin and forbidding any issuance of debt or tokenized securities tied to BTC. Despite this, Nayib Bukele declared that the government will continue buying BTC, characterizing the IMF’s demands as “whining.”

Bukele stated:

“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.”

El Salvador’s unapologetically pro-Bitcoin stance has led many major crypto firms to relocate to the country. On January 7, Bitfinex Derivatives announced it would move its headquarters from Seychelles to El Salvador. On January 13, stablecoin issuer Tether followed by announcing plans to relocate its headquarters to El Salvador.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post El Salvador Bought Extra Bitcoin Despite IMF Agreement! appeared first on Coin Engineer.