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President of El Salvador: The action of buying Bitcoin will not stop due to the IMF agreement

President of El Salvador: The action of buying Bitcoin will not stop due to the IMF agreement

Bitget2025/03/05 00:55

According to CoinDesk, El Salvador, under the leadership of President Nayib Bukele, apparently has no intention of stopping its accumulation of Bitcoin, regardless of any demands made by the International Monetary Fund (IMF).

Bukele posted on platform X that El Salvador will not stop accumulating Bitcoin: "It did not stop when the whole world rejected us and most 'Bitcoin believers' abandoned us. It won't stop now or in the future. Proof of Work is greater than proof of complaint."

Shortly after Bukele's post on social media, the IMF released more details about its $3.5 billion loan agreement with this Latin American country. The IMF claimed that as part of the loan scheme it had banned "the public sector from voluntarily accumulating Bitcoin". Perhaps in response to the IMF's post, El Salvador revealed late Monday night that it had purchased 19 Bitcoins in the past seven days and then disclosed an additional token purchase Tuesday afternoon based on this. The government currently holds 6101.15 Bitcoins which are worth approximately $530 million at a current price around $88,000 per Bitcoin.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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