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El Salvador Continues Bitcoin Accumulation Despite IMF Conditions
Despite the conditions of the IMF loan, El Salvador has continued to accumulate Bitcoin, adding an additional 240 BTC since December 2024 and maintaining its daily purchase strategy. The country's current reserves stand at 6,209 BTC, following the '1 BTC per day' buying plan initiated by President Nayib Bukele in 2022. The IMF's conditions required El Salvador to cease recognizing Bitcoin as legal tender and stop government purchases of the cryptocurrency. However, the IMF's Western Hemisphere director confirmed that El Salvador is formally complying with the agreement. Experts suggest that purchases may be facilitated through non-governmental entities to adhere to IMF requirements. Meanwhile, cryptocurrency remittances to El Salvador have dropped by 44.5% year-over-year in the first quarter of 2025, shrinking from $28.3 million to $16 million, and their relative share in total remittances has halved from 1.08% to 0.52%.
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AI Analysis
The ongoing accumulation of Bitcoin by El Salvador despite explicit IMF conditions points to strategic prioritization of Bitcoin reserves, likely motivated by national economic goals or ideological co...
AI Recommendation
Investors should monitor El Salvador’s Bitcoin reserve developments and regulatory environment changes carefully. The country's strategy of accumulating Bitcoin despite IMF restrictions demonstrates a...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.