IMF's Stance on Bitcoin Unwavering Despite El Salvador's Defiance
by aria-crypto.com
March 4, 2025 at 21:22
IMF's Stance on Bitcoin Unwavering Despite El Salvador's Defiance
El Salvador continues to bolster its Bitcoin reserves despite facing stringent obstacles from the International Monetary Fund (IMF). President Nayib Bukele's administration has openly defied the IMF’s directives, which include stern restrictions on the public sector’s accumulation of Bitcoin as part of a $1.4 billion financial deal. This defiance was highlighted recently when El Salvador announced the acquisition of additional Bitcoin, bringing its total holdings to approximately 6,100 BTC, valued around $510 million. The IMF's recent stipulations aimed at El Salvador include halting public sector Bitcoin purchases and phasing out the government-backed digital wallet, Chivo, by July 2025. Despite these pressures, El Salvador remains steadfast, viewing these crypto investments as a catalyst for monumental change and a cornerstone of its financial strategy. The government’s actions resonate with local leaders and the global crypto community, indicating a persistent commitment to integrating Bitcoin into its economic framework, even as it navigates the complex landscape of international financial regulations.
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