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IMF continues to work to prevent El Salvador from accumulating more Bitcoin
The International Monetary Fund (IMF) stated that it will "continue efforts" to ensure that the government of El Salvador does not increase the amount of Bitcoin it holds, despite the country's ongoing purchases.
El Salvador has reached a loan agreement of 3.5 billion USD from the IMF with many conditions related to Bitcoin, including the removal of the legal tender status of this currency and a ban on the government accumulating more BTC. However, since the agreement in March, the total amount of Bitcoin that El Salvador owns has increased from 6,101.15 BTC to 6,189.18 BTC – equivalent to about 678 million USD.
President Nayib Bukele affirmed on X on March 4 that the purchase of Bitcoin "will not stop," even though El Salvador was previously isolated by the world and Bitcoin supporters turned their backs.
However, the IMF did not mention any conflicts or violations in its latest report, and even praised El Salvador for achieving its budget and foreign exchange reserve targets.