In the past, the IMF had prohibited El Salvador from collecting Bitcoin when it was lending money. But the government of El Salvador, Nayib Bukele, did not accept the conditions of the IMF, the lending institution, and according to the previous rules, he is still buying Bitcoin according to the daily DCA method.
This bold challenge has made him more aggressive in collecting Bitcoin, Nayib Bukele knows rightly and assumes that in order to be economically successful in the future, he must hold on to this Bitcoin and after holding it for a long time, success is definitely possible. Because they have accepted Bitcoin as legal tender since 2021, they are still holding on to their holdings and are buying 1 Bitcoin every day.
El Salvador under President Nayib Bukele is boldly standing up to IMF about Bitcoin even though IMF has told them not to use it when lending them money. Bukele has kept buying Bitcoin every day showing he strongly believes it will be worth much in future and that holding it is key for El Salvador economic success. This is not just about using Bitcoin as official money which they started doing in 2021. It is about buying and saving it as national asset for country future wealth. This whole situation is big example of how country is handling its money and how cryptocurrencies are changing things with El Salvador making high stakes bet on Bitcoin future that many are watching closely to see what happens.