Bitcoin Pioneer El Salvador Keeps Buying Despite IMF Warning

El Salvador, a pioneer in adopting Bitcoin as legal tender, continues to increase its accumulation of the cryptocurrency despite warnings from the International Monetary Fund (IMF). The government of El Salvador recently purchased 12 more Bitcoins, bringing its total Bitcoin reserves to 6,068 BTC, worth over $554 million.

The move comes after El Salvador signed a $1.4 billion loan agreement with the IMF in December 2024, in which the government pledged to reduce its exposure to Bitcoin and take steps to mitigate risks associated with cryptocurrencies. However, President Nayib Bukele has remained steadfast in his Bitcoin strategy, continuing to buy more despite the IMF’s conditions.

The decision has sparked controversy within El Salvador’s political establishment. The opposition party ARENA has strongly criticized the continued purchase of Bitcoin, arguing that it could destabilize the national economy and violate its commitments to the IMF.

Despite facing pressure from international financial institutions and domestic criticism, El Salvador continues to strengthen its position in the cryptocurrency sector, demonstrating a strong commitment to integrating Bitcoin into the national economy.