El Salvador’s President Nayib Bukele is not backing down from his Bitcoin bets, no matter what the International Monetary Fund says.
Since March 1, El Salvador has scooped up over 13 more Bitcoin, adding to its stash of over 6,105 BTC, now worth more than $527 million.
The IMF’s pressure is strong, but the country endures
Bukele’s got a vision, and it includes a whole lot of Bitcoin. The IMF’s been breathing down El Salvador’s neck, pushing them to ditch Bitcoin as legal tender and scale back their public sector involvement. But Bukele’s not having it.
In December 2024, El Salvador inked a deal with the IMF for a $1.4 billion loan, agreeing to repeal Bitcoin’s legal tender status.
Yet, the government keeps buying Bitcoin at a steady clip, usually one coin every day, but sometimes more. On March 3, they snagged five in one go.
Bukele’s response
When the IMF asked El Salvador to stop accumulating Bitcoin, Bukele fired back, calling their pressure whining lol.
He made it clear, El Salvador won’t stop buying Bitcoin, no matter what.
This defiance has attracted some big names in crypto. Bitfinex Derivatives and Tether, the stablecoin issuer, are relocating to El Salvador.
It seems Bukele’s pro-Bitcoin stance is paying off, even if it means ruffling a few feathers.
The crypto exodus to El Salvador
Bukele’s unapologetic stance on Bitcoin is turning El Salvador into a crypto haven. Major firms are flocking to the country, drawn by its welcoming environment. It’s a brave move, but it might just pay off.
“This all stops in April.” “This all stops in June.” “This all stops in December.”
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
— Nayib Bukele (@nayibbukele) March 4, 2025
“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.”
Looks like El Salvador’s betting big on Bitcoin, and it’s not backing down.
Have you read it yet? SBF’s big mouth lands him in solitary
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
