According to President Naive Buquere, El Salvador will continue to acquire Bitcoin despite an agreement with the International Monetary Fund (IMF).
On March 5, Bukere rejected speculation that the country would halt Bitcoin purchases, reaffirming that El Salvador would continue to acquire BTC regardless of external pressure.
He said:
“(Bitcoin purchases) have not stopped. If the world expels us and most “Bitcoiners” abandon us, if it doesn’t stop, then it won’t stop now and won’t stop in the future. ”
Following his remarks, the National Bitcoin Office in El Salvador confirmed the acquisition of new Bitcoin, bringing the total holdings of 6,101 BTC to the country, valued at around $530 million at the time of report.
Bukele’s declaration comes in reports that El Salvador has agreed to limit government direct involvement in BTC-related activities. The IMF outlined that countries must implement stricter surveillance of digital assets to align with evolving global financial regulations.
As part of this arrangement, Central American countries are prohibited from voluntarily purchasing Bitcoin, including mining operations. The only exception applies to Bitcoin obtained through seizures, confiscation, or other legal enforcement action.
The development follows the country’s previous agreement to ease the Bitcoin policy in exchange for the first $1.4 billion financial aid package from the IMF. The terms must remove forced acceptance of Bitcoin to businesses and cease tax payments at BTC.
Community Response
Bukele’s statement elicited a split response within the crypto space. Some praised his ongoing Bitcoin defense, while others are looking for greater transparency in how El Salvador navigates the IMF’s commitment.
Jan3 CEO Samson Mow suggested that it needs to be clear how the country intends to maintain the way Bukele is maintaining its BTC strategy within new regulatory constraints. Similarly, John Carvalho, CEO of the synonym, called for details on the government’s long-term plan:
“IMF news seems to clearly ban what you’re doing, but you still made a deal. So what are your plans and what do you think will happen next?”
But Stacey Herbert, director of the National Bitcoin Office in El Salvador, criticized those who doubted the government’s commitment.
She said:
“Some ‘bitcoiners’ trust the IMF’s words surrounding the stacked actions of El Salvador recorded forever on the Bitcoin blockchain. ”
(Editor’s note: The IMF contract clearly states that the Salvadoran government may not continue to acquire Bitcoin in any form other than law enforcement, including mining. Failure to comply with this requirement could result in the cost of $3.5 billion in assistance over the periodic collaboration. We have identified a loophole that has not been published.)
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