El Salvador’s President Nayib Bukele has reiterated that his government will continue acquiring Bitcoin, dismissing the latest request from the International Monetary Fund (IMF) to halt purchases.
On March 3, the IMF renewed its call for El Salvador’s public sector to stop accumulating Bitcoin as part of a $1.4 billion extended fund facility agreement.
Bukele responded via X on March 4, stating, “No, it’s not stopping,” making it clear that the country has no intention of complying with the IMF’s demand.
“If we didn’t stop when we were isolated globally and most ‘bitcoiners’ abandoned us, we won’t stop now, and we won’t stop in the future,” he added.
El Salvador continues its policy of purchasing at least one Bitcoin per day, reinforcing its commitment to Bitcoin as part of its financial strategy.
The IMF’s recent memorandum also urged the country to cease Bitcoin mining and restrict public sector involvement in issuing debt or tokenized financial instruments linked to Bitcoin.
While Bukele has made it evident that Bitcoin accumulation will persist, it remains uncertain whether El Salvador will address other concerns raised by the IMF.
The National Bitcoin Office of El Salvador has not yet commented on the matter.
El Salvador initially secured a $1.4 billion funding agreement with the IMF in December 2024, which included commitments to scale back certain Bitcoin-related initiatives. Measures such as voluntary Bitcoin payments and tax transactions in U.S. dollars were part of the deal.
As of now, El Salvador holds 6,101 BTC, valued at approximately $534.5 million, according to data from the country’s National Bitcoin Office.
This makes El Salvador the sixth-largest sovereign holder of Bitcoin, following the U.S., China, the UK, Ukraine, and Bhutan, based on BitBo’s Bitcoin Treasuries data.
The country became the first to adopt Bitcoin as legal tender in September 2021. However, its role was adjusted in January 2025 when a new law made Bitcoin acceptance voluntary for private businesses.
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