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El Salvador continued its Bitcoin 
$104,590 purchases, disregarding the demands of the International Monetary Fund (IMF). The country’s total Bitcoin holdings have reached 6,101, with the portfolio valued at nearly $510 million. This investment strategy conflicts with the financial regulations proposed by the IMF.
Bitcoin Purchases Persist Despite IMF Warnings
The Bitcoin Office of El Salvador announced that the government is maintaining its investment in Bitcoin. Although the usage rate of Bitcoin in the country is reported to be limited, the government is pursuing a long-term investment strategy. Officials argue that Bitcoin will contribute positively to the national economy.
The IMF has highlighted the risks that Bitcoin poses to public finances. The institution has called for a halt to El Salvador’s Bitcoin purchases. Additionally, it demands the discontinuation of the state-supported Chivo wallet and insists on the liquidation of the Fidebitcoin trust fund by July 2025.
Bukele: Bitcoin Strategy Will Remain Unchanged
President Nayib Bukele of El Salvador responded harshly to the IMF’s demands. In a social media post, he emphasized that the Bitcoin investment strategy will not change. Bukele stated, “They said it would completely stop. In April, June, December… But it didn’t stop and it won’t stop.”
The government believes Bitcoin will provide long-term benefits to El Salvador. Officials are convinced that technological innovations will strengthen the national economy. El Salvador continues to view Bitcoin as an investment tool.
The IMF claims Bitcoin threatens financial stability, asserting that it hasn’t gained widespread adoption and is not utilized by major companies for tax payments. According to the IMF, due to its limited use, Bitcoin has not generated the expected economic benefits.
