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- 🎉 Follow to Win! Gate_Activity account is now live!
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- 🚀 Gate.io #Launchpad# for Puffverse (PFVS) is Live!
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⏰ Event Period: May 8, 8:00 AM – May 18, 6:00 PM (UTC)
El Salvador's Bitcoin and IMF Statement! Will They Stop BTC Purchases?
El Salvador, which accepted Bitcoin as legal currency and signed a principle, was much talked about in recent months with the agreement it made with the International Monetary Fund (IMF).
The IMF requested a series of restrictions, such as reducing BTC purchases from El Salvador, in exchange for the loans it provided. However, El Salvador continues to buy Bitcoin despite the IMF's pressure for restrictions.
El Salvador is Buying Bitcoin Despite the IMF!
El Salvador continues to purchase BTC despite a $1.4 billion loan agreement with the IMF that includes conditions to reduce Bitcoin purchases.
The country's Bitcoin Office is sharing updates regarding ongoing BTC purchases via social media, raising concerns among investors about whether the government is fully complying with the loan conditions.
Economy Minister María Luisa Hayem stated in an interview with Bloomberg that President Nayib Bukele is determined to accumulate assets.
The minister stated that BTC continues to be an important project for the country, and that both the government and the private sector are actively continuing to accumulate Bitcoin.
Minister Hayem, who stated that El Salvador will continue to buy Bitcoin, said the following:
According to official data from the El Salvador Bitcoin Office, El Salvador added 8 Bitcoin to its national Bitcoin strategic reserve in the last 7 days, bringing the total reserve to 6,162.18 BTC.