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El Salvador to Load Up on More Bitcoin, Going Against IMF Advise

  • El Salvador defied IMF conditions by purchasing another Bitcoin and now holds a total of 6,101 BTC valued at around US$510M.
  • President Nayib Bukele reaffirmed the country's commitment to Bitcoin, disregarding IMF pressure and the conditions of a recent loan agreement.
  • The IMF argues that Bitcoin adoption in El Salvador is minimal, with limited public trust, low circulation, and no financial sector exposure.
  • The IMF is requesting El Salvador to halt Bitcoin-related activities, including purchases, and disclose all public Bitcoin wallet addresses.

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