El Salvador is Buying Bitcoin Despite IMF Compliance: How?
El Salvador's government paused Bitcoin acquisitions by public sector entities to comply with IMF loan conditions but continues to accumulate Bitcoin through its Bitcoin Office. Recently, the country added 32 BTC, raising total holdings to 6,161.18 BTC, valued at approximately $584 million. Under a $1.4 billion loan agreement, El Salvador agreed to roll back mandatory Bitcoin acceptance laws and limit public sector Bitcoin activities. The IMF confirmed El Salvador's compliance with non-accumulation commitments, while the Bitcoin Office operates outside fiscal sector restrictions, allowing continued small daily purchases. Legislative changes effective May 1 will remove Bitcoin's mandatory legal tender status and eliminate its use for tax payments. The broader agreement with the IMF aims to unlock an additional $2 billion in financing and improve investor confidence as El Salvador addresses its high debt levels. El Salvador ranks as the sixth-largest sovereign Bitcoin holder globally.
