Key Takeaways
- Bukele confirmed El Salvador will continue buying bitcoin despite the IMF deal.
- The IMF claimed its $3.5 billion agreement banned further government bitcoin purchases.
- El Salvador disclosed buying 20 more bitcoin after the IMF announcement.
El Salvador’s President Nayib Bukele has made it clear that his government will continue accumulating bitcoin, despite a reported clause in the country’s recent $3.5 billion financing deal with the International Monetary Fund (IMF) that prohibits additional purchases.
Addressing speculation
Bukele addressed speculation about a potential halt to bitcoin acquisitions in a post on X, saying:
‘This all stops in April.’ ‘This all stops in June.’ ‘This all stops in December.’ No, it’s not stopping.
He added:
Proof of work > proof of whining.
“This all stops in April.” “This all stops in June.” “This all stops in December.”
— Nayib Bukele (@nayibbukele) March 4, 2025
No, it’s not stopping.
If it didn’t stop when the world ostracized us and most “bitcoiners” abandoned us, it won’t stop now, and it won’t stop in the future.
Proof of work > proof of whining https://t.co/9pC0PoY3YQ
IMF agreement details
The IMF revealed details of its financing agreement on Tuesday, which it claimed included a ban on the…
… voluntary accumulation of bitcoin by the public sector.
However, just hours later, El Salvador announced it had purchased 19 additional bitcoin over the past week, followed by one more purchase on Tuesday afternoon.
Reactions from critics
Critics initially claimed the IMF agreement would force the country to end its bitcoin purchases.
Samson Mow, a longtime bitcoin advocate and Bukele ally, initially posted:
No more #Bitcoin buys for El Salvador.
He later revised his statement after the new purchases were disclosed.
Current holdings
El Salvador’s government now holds 6,101.15 bitcoin, valued at approximately $530 million at current prices.
Juan Carlos Reyes, head of the country’s National Commission on Digital Assets, called Bukele’s statement…
… a catalyst for monumental change.
I don't repost often, but when I do, it's because the message is not just important—it's a catalyst for monumental change.
— Juan Carlos Reyes (@jcreyes_sv) March 4, 2025
Thanks @nayibbukele https://t.co/Wu2X4cYYAW
