El Salvador’s President Nayib Bukele has made it clear that the country will continue purchasing Bitcoin, even after striking a deal with the International Monetary Fund (IMF) to scale back Bitcoin-related activities.
In response to speculation, Bukele reaffirmed his stance on X (formerly Twitter) on Tuesday, stating, “No, it’s not stopping. 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.”
The statement comes after El Salvador and the IMF agreed in December to limit Bitcoin-related government activities in exchange for a financial package, which includes a $1.4 billion loan. The total deal is expected to be worth over $3.5 billion. While the IMF previously warned of potential risks associated with El Salvador’s Bitcoin holdings, it noted that these risks have not yet materialized.
To meet the IMF‘s conditions, El Salvador’s Congress quickly passed amendments making Bitcoin adoption voluntary for the private sector. Following these changes, the IMF officially approved the $1.4 billion loan last month, granting the country an initial disbursement of approximately $113 million.
Despite these commitments, El Salvador’s strategic Bitcoin reserve continued to grow. On Tuesday, the country announced an additional Bitcoin purchase, bringing its total holdings to 6,101.18 BTC—valued at over $535 million.
JAN3 CEO Samson Mow responded to Bukele’s post, questioning how the IMF agreement might affect future Bitcoin acquisitions. Bukele has yet to reply but has shared supportive comments from MicroStrategy co-founder Michael Saylor and crypto advocate Peter McCormack.
El Salvador remains steadfast in its Bitcoin strategy, signaling that, regardless of international pressures, its pro-Bitcoin stance is here to stay.
Image Credit: Pixabay
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