El Salvador has added eight more bitcoins to its national reserves, continuing its Bitcoin strategy despite repeated warnings from the International Monetary Fund (IMF).
The purchase was made shortly after the country reached a staff-level agreement with the IMF for a $1.4 billion loan, which praised El Salvador’s economic reforms but urged it to halt further crypto acquisitions.
The country now holds nearly 6,200 BTC, valued at over $674 million. Though the government paused direct purchases to comply with IMF terms, its Bitcoin Office operates outside the formal fiscal sector, allowing small daily buys to continue legally.
This loophole sets up a quiet standoff between the IMF and President Nayib Bukele, who remains committed to Bitcoin as part of his national and personal brand. Recent legal changes removed Bitcoin’s status as a mandatory legal tender, satisfying IMF conditions while keeping it an optional currency.
The broader agreement tied to the loan is expected to unlock an additional $2 billion in development funding, helping El Salvador manage its high public debt, which hit 85% of GDP last year.
Image Credit: Pixabay
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