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.
This is a good move by El Salvador because they are confident that the decision they are taking will be very beneficial. A country that has control over its financial value will be much easier to determine the steps and on the other hand this can make them grow faster in terms of the country's economy. The IMF can issue any instructions but the decision made by El Salvador is final because they are one of the to adopt bitcoin as an investment asset and as a legal transaction tool.
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,
If they can't stop then there is no point in issuing instructions to stop El Salvador from continuing to buy bitcoin. In certain conditions they praise the economic progress of the country, but the IMF is too afraid to say that Bitcoin is one of the best assets ever.