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, the lending institution, has repeatedly put El Salvador in such a situation while providing loans, preventing it from buying BTC. But the government of El Salvador, Nayib Bukele, knows exactly that it is possible to achieve the greatest success in accepting Bitcoin and holding Bitcoin for the long term and become economically self-sufficient.
Despite repeated IMF prohibitions, the country of El Salvador has not backed down from buying Bitcoin and is buying one Bitcoin every day. However, not only is El Salvador pressuring the country, but Pakistan is also repeatedly putting the country in a situation where it is being prevented from accepting Bitcoin.