El Salvador Continues to Accumulate Bitcoin Despite IMF Pressure: An Unwavering Commitment
(Investing.com) – While international financial institutions urge caution, El Salvador remains firmly on track to become the world’s first Bitcoin nation. Despite strong opposition from the International Monetary Fund (IMF), the Central American nation has been steadily “dieting” on a one Bitcoin a day regime – a clear demonstration of the uncompromising long-term investment strategy of President Nayib Bukele’s government.
IMF Calls for a Stop – El Salvador Keeps Going
Recent public records show that El Salvador continues to add Bitcoin to its national treasury, despite repeated requests from the IMF to stop the government’s use and purchase of the digital asset. According to the IMF, risks from price volatility, financial security, and lack of regulation could threaten El Salvador’s macroeconomic stability – especially as the country negotiates a $3.5 billion fiscal package.
However, El Salvador has chosen a different path. The National Bitcoin Office confirmed that the country is still implementing its “Dollar Cost Average” strategy, buying 1 BTC per day and storing it in cold wallets – to ensure safety and transparency.
Positive returns and Bukele’s persistence
In April, Bitcoin increased by more than 16.5%, helping El Salvador’s crypto assets reach a record high since February. Currently, the national treasury holds more than $2.85 million worth of Bitcoin in the past 30 days alone – the equivalent of 30 BTC.
According to public blockchain data, El Salvador’s total profits since starting its Bitcoin journey in 2021 have reached around $157 million, representing a return of more than 100%. President Bukele has not hesitated to share this information on social media, even announcing a new slogan: “Proof of Work > Proof of Whine.”
Growth, stability and… confronting the IMF
While the IMF is concerned that El Salvador’s Bitcoin strategy could affect the country’s credit rating, President Bukele is looking to the broader economic picture. He aims to double the IMF’s 2.5% growth forecast by boosting tourism, domestic security and technological innovation.
Bukele’s crackdown on notorious criminal gangs and the construction of the “Mega Prison” in San Salvador – once known as the murder capital of the world – have transformed El Salvador in the eyes of international investors.
However, human rights groups remain concerned about the government’s tough enforcement of laws, including the extradition of foreign citizens for minor administrative violations. Still, the Bitcoin strategy has been a bright spot in attracting global attention and building confidence in an independent economic model.
Why does this matter?
Despite facing significant pressure from the international financial community, El Salvador has remained true to its vision of a digital future – where Bitcoin serves as a means of saving, trading, and investing. The government’s $30 Bitcoin giveaway to every new citizen who uses a digital wallet in 2021 is the first step in sparking a wave of decentralized finance in the country.
As the world continues to debate the role of cryptocurrencies, El Salvador is showing that it is not just an “experimenter” but one of the most determined pioneers in the global financial revolution.