El Salvador has executed its largest single-day Bitcoin purchase since adopting the cryptocurrency as legal tender, acquiring approximately 1,090 BTC worth $100 million during a market downturn. President Nayib Bukele announced the transaction as Bitcoin prices fell below $90,000, marking a significant expansion of the country’s national reserves. The move comes despite ongoing tensions with the International Monetary Fund over the country’s Bitcoin accumulation strategy.
about El Salvador Buys $100M Bitcoin Dip, Defying IMFNational Bitcoin Office
0 in Finance and 0 in Crypto last weekEl Salvador Buys 21 BTC, Defying IMF Loan Terms
El Salvador continues to expand its Bitcoin reserves despite violating terms of its IMF loan agreement. The country purchased 21 BTC on September 7th, symbolically referencing Bitcoin’s 21 million supply cap, bringing its total holdings to 6,313.18 BTC valued at approximately $701 million. This acquisition directly contradicts conditions of El Salvador’s $1.4 billion IMF Extended Fund Facility from December 2023, which mandated halting voluntary Bitcoin accumulation by public entities. The government has maintained its daily Bitcoin purchasing strategy since March 2023 while simultaneously implementing IMF-required reforms, including making merchant acceptance voluntary and planning to liquidate the Fidebitcoin trust. The IMF estimates El Salvador’s Bitcoin investments have generated over $400 million in unrealized gains, though limited transparency prevents independent verification. The nation remains under IMF compliance review through 2027, with future loan disbursements contingent on meeting agreement terms.
about El Salvador Buys 21 BTC, Defying IMF Loan TermsEl Salvador Accelerates Bitcoin Purchases Amid IMF Deal Adjustments
El Salvador purchased two additional Bitcoin on February 1, bringing its total to 6,055 BTC, valued at over $612 million. Despite recent changes to its legal tender law as part of a $1.4 billion IMF deal, the country continues to accelerate its Bitcoin acquisitions, aiming for broader national adoption. The strategy has garnered attention from crypto firms and analysts, who see it as a potential model for other nations.
about El Salvador Accelerates Bitcoin Purchases Amid IMF Deal AdjustmentsEl Salvador Amends Bitcoin Law to Meet IMF Loan Conditions
El Salvador has amended its Bitcoin law to comply with terms set by the International Monetary Fund (IMF) for a $1.4 billion loan, making Bitcoin acceptance voluntary for businesses and halting tax payments in the cryptocurrency. Despite previous resistance to IMF pressure, the country plans to accelerate its Bitcoin acquisitions, although adoption remains low, with only 7.5% of the population using Bitcoin for transactions in the past year.
about El Salvador Amends Bitcoin Law to Meet IMF Loan ConditionsEl Salvador Increases Bitcoin Reserves Despite IMF Agreement
El Salvador has purchased 12 BTC, increasing its total holdings to 6,044 BTC valued at approximately $620 million, despite a recent agreement with the IMF to scale back some crypto initiatives. The National Bitcoin Office confirmed the purchases, emphasizing that the country’s Bitcoin strategy remains unchanged. Tether has also relocated its headquarters to El Salvador, aligning with the nation’s Bitcoin-friendly policies.
about El Salvador Increases Bitcoin Reserves Despite IMF AgreementEl Salvador Expands Bitcoin Reserves Amid IMF Loan Agreement
El Salvador has purchased an additional 11 Bitcoins, increasing its national reserves to 6,044 BTC, valued at approximately $610 million. This acquisition comes despite an agreement with the IMF that requires the country to make Bitcoin acceptance voluntary and reduce its involvement with the Chivo wallet. The government remains committed to integrating Bitcoin into its financial framework, viewing it as a means of financial autonomy and innovation.
about El Salvador Expands Bitcoin Reserves Amid IMF Loan AgreementEl Salvador Acquires More Bitcoin Despite IMF Agreement on Crypto Policies
El Salvador has purchased an additional 12 Bitcoin for its reserves, totaling over $1 million, despite a recent $1.4 billion deal with the IMF to reduce its crypto activities. The country now holds 6,044 BTC, valued at nearly $610 million, while a recent survey shows 92% of Salvadorans do not use Bitcoin for transactions.
about El Salvador Acquires More Bitcoin Despite IMF Agreement on Crypto Policies