El Salvador Adds 240 BTC Despite IMF Loan Agreement

El Salvador has continued its daily Bitcoin purchases, adding 240 BTC since December 2024, despite a $1.4 billion loan agreement with the International Monetary Fund (IMF) that discouraged further public-sector accumulation. The country's treasury wallet now holds 6,209 BTC, with daily purchases initiated by President Nayib Bukele in 2022 continuing at a pace of one BTC per day.

Government officials have confirmed these acquisitions, with Economy Minister Maria Luisa Hayem stating that asset accumulation remains a key strategic priority. "There’s a commitment of President Bukele to keep accumulating assets as a way to do precisely that. Bitcoin keeps being an important project. There is an asset accumulation that we’re seeing from the government perspective, from the private sector perspective," Hayem said in an interview.

The IMF’s December 2024 agreement with El Salvador required the country to end Bitcoin’s status as legal tender and refrain from further public-sector Bitcoin accumulation in exchange for the $1.4 billion loan. However, the IMF has acknowledged that the country remains in technical compliance with the deal despite continuing to accumulate BTC. Rodrigo Valdes, head of the IMF’s Western Hemisphere Department, stated that the agreement only applies to the formal fiscal sector, suggesting that the government is executing the purchases through structures that fall outside the central fiscal sector, maintaining technical compliance with the IMF deal.

El Salvador's actions highlight a broader debate on the role of cryptocurrencies in national economies and the balance between financial stability and innovation. The country's continued accumulation of Bitcoin underscores its determination to maintain its unique position in the global financial landscape, despite external pressures to curtail its Bitcoin investments. This move reflects El Salvador's commitment to Bitcoin as a legal tender and a strategic asset, even as it navigates the complexities of international financial agreements.