El Salvador Stands Firm on Bitcoin
El Salvador’s President, Nayib Bukele, has made a strong decision: his country will keep buying Bitcoin, even though the International Monetary Fund (IMF) is putting pressure on them to stop. This is part of a $1.4 billion loan agreement that the IMF wants El Salvador to follow[1][3]. Despite these challenges, President Bukele believes in Bitcoin’s potential to change El Salvador’s economy and is sticking to his plan.
Buying Bitcoin Despite IMF’s Warnings
El Salvador has been buying more Bitcoin, even when its price goes down. In early March 2025, they bought 5 more Bitcoins, making their total 6,100 BTC[1]. The IMF wants El Salvador to stop buying Bitcoin for the government by July 2025[3], but President Bukele thinks Bitcoin can help his country’s economy.
IMF’s Rules and Economic Problems
The IMF wants El Salvador to stop supporting the Chivo Bitcoin wallet and to tell everyone how many Bitcoins they have[3]. These rules are to protect the government from risks and improve its finances. But El Salvador has economic problems, and not many people use Bitcoin there[3]. Despite these issues, the government thinks Bitcoin can help them grow.
More Than Just Bitcoin
President Bukele wants El Salvador to be a tech hub in the region. He’s talking to important tech investors about using AI and other technologies to create jobs and make it easier to do business[1]. This could help El Salvador’s economy in many ways.
Looking Ahead
In short, El Salvador is choosing to keep buying Bitcoin, even when others say they shouldn’t. They’re also thinking about other technologies to help their economy. Everyone will be watching to see if this works, because it could show other countries what to do.
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Sources:
– Crypto Briefing
– TradingView
– CoinDesk