El Salvador defies IMF agreement by continuing to buy Bitcoin, increasing total assets to $504 million. President Bukele vows to persist despite challenges.
Despite agreeing with the International Monetary Fund (IMF) to limit Bitcoin purchases, El Salvador continues to buy this digital currency. Recently, the country purchased 6 more Bitcoins, increasing their total Bitcoin assets to 6,111.18, valued at approximately $504 million at current market prices. In December, El Salvador reached an agreement with the IMF for a $1.4 billion loan and agreed to reduce Bitcoin-related activities in exchange for this financial support. However, President Nayib Bukele recently announced that the country will continue buying Bitcoin, stating, ‘If when the world rejected us and most Bitcoiners abandoned us, it didn’t stop us, it will not stop now and in the future.’
