The International Monetary Fund (IMF) has completed the first review of its agreement with El Salvador, aiming to prevent further growth of the country's Bitcoin reserves.
As part of a 40-month, $1.4 billion loan deal, El Salvador agreed to reduce its Bitcoin-related activities, including amending its Bitcoin Law to remove mandatory usage in the private sector. With support from other institutions like the World Bank, the total financial aid package could reach $3.5 billion.
Despite the IMF’s position, President Nayib Bukele has made it clear that the country will continue purchasing Bitcoin. Following the IMF’s latest announcement, El Salvador’s Bitcoin Office revealed the acquisition of 8 more BTC, bringing the national holdings to 6,190.18 BTC.
According to Bukele, the country is currently sitting on over $357 million in unrealized gains, and while the IMF pushes for restraint, El Salvador’s Bitcoin strategy remains firmly in place.
