IMF says “stop buying crypto” and El Salvador buys 8 more BTC.
A fresh $1.4B loan deal urges limits but Bukele’s Bitcoin Office isn’t backing down.
The legal loophole is that the office isn’t part of the fiscal sector so daily buys roll on,
IMF praises economic progress but can’t stop the sats stacking,
El Salvador now holds nearly 6,200 BTC worth over $674M.
The IMF had, of course, previously warned the president of El Salvador that if El Salvador invested dollars from the public sector in bitcoin, it could cause complications in obtaining a $1.4 billion loan. But it was later discovered that El Salvador continued to buy Bitcoin every day. Again, despite the IMF's second warning, El Salvador continued to invest in Bitcoin. Regardless of how much the IMF conditions El Salvador, it is clear why El Salvador will officially continue to invest in Bitcoin.