El Salvador stacks 7 Bitcoin in last week, despite IMF deal
El Salvador continues to accumulate Bitcoin (BTC) despite an agreement with the International Monetary Fund (IMF) that prohibits using public funds for such purchases. The country has acquired an additional seven BTC recently, totaling 6,173 BTC valued at over $637 million. El Salvador remains one of the few nations actively purchasing Bitcoin and plans to use its strategy as a model for others. In December 2024, El Salvador signed a $1.4 billion loan agreement with the IMF, which required the repeal of its Bitcoin legal tender law and a reduction in Bitcoin accumulation. Lawmakers repealed the law in January 2025, but Bitcoin purchases continued unabated. The IMF reiterated its request to halt acquisitions in March 2025, but President Nayib Bukele rejected this, asserting that the country would persist in its Bitcoin strategy regardless of external pressure.
