El Salvador Continues Buying Bitcoin Despite IMF Pressure

The government of El Salvador has continued buying bitcoin despite the deal reached with the International Monetary Fund (IMF) in December. According to the National Bitcoin Office, in the last 7 days, Bukele’s administration acquired 18 BTC, with its total reserve reaching 6.073 BTC, nearly $584,000. “Stacked again,” the organization posted on social media, reinforcing the commitment to keep adding bitcoin to the country’s stockpile. Nonetheless, many are worried about the future of these purchases, as the Salvadoran Congress recently removed BTC’s legal tender status to comply with the requirements for receiving a $1.4 billion credit line from the IMF, which demanded scaling back bitcoin’s role in El Salvador’s economy.