Since signing an agreement with the International Monetary Fund (IMF) that clearly prohibits the accumulation of Bitcoin by the public sector, El Salvador has continued its daily policy of purchasing this cryptocurrency.
In the last six months, El Salvador has increased its reserves by 6 bitcoins, demonstrating a determined commitment to Bitcoin that few would have imagined it would achieve.
But Why does El Salvador persist in this accumulation strategy and how does it do so without breaking its international agreements? This phenomenon reveals a real clash of visions about the country's economic future and the role of Bitcoin in traditional financial systems.
BUY BITCOIN (BTC) HEREThe El Salvador-IMF agreement: conditions and context for Bitcoin
El Salvador signed a $1.400 billion agreement with the International Monetary Fund in an effort to stabilize its economy and build international confidence. However, one of the explicit clauses of this pact was a ban on the public sector—that is, the official finances of the state—from accumulating Bitcoin, given the volatile nature of the market-leading cryptocurrency and the associated risks to macroeconomic stability that the IMF perceives. This condition was received as a clear call to moderate the country's aggressive policy toward Bitcoin, which was declared legal tender under law in 2021.
However, despite this ban, since the signing of the agreement, El Salvador has purchased an additional 240 bitcoinsThis figure is added to the total that the country currently has, which is around 6.210 bitcoins, according to official reports from The Bitcoin Office account and monitoring of its movements public.
Although it may seem contradictory, El Salvador continues to purchase Bitcoins without violating its agreement with the IMF. This is because to carry out these transactions, the nation employs a system that the IMF itself recognizes as technically compatible with the agreement, as the purchases are made through entities or mechanisms external to the public fiscal sector. In this way, the formality of the commitment is maintained without abandoning the strategy of accumulating Bitcoin as a disruptive reserve for the State.
Rodrigo Valdés, director of the IMF's Western Hemisphere Affairs Department, confirmed this interpretation in April. Valdés stated that El Salvador complies with its commitment to not accumulate more Bitcoin with direct public funds, pointing out that continued purchases may involve instruments and assets outside the fiscal sphere, making the continuation of the “a bitcoin a day” policy initiated by President Nayib Bukele in 2022.
LINK TO BIT2ME EARNA bitcoin a day
The policy of buying one Bitcoin a day began as a symbol of optimism and faith that this cryptocurrency can support financial modernization, attract foreign investment, and create new sources of income for the country. Furthermore, this action represents a symbolic stance against international organizations and voices warning about the volatility and economic risks of adopting Bitcoin as a sovereign asset.
For many countries and international experts, the Salvadoran strategy has proven controversial. The IMF, for example, believes that the accumulation of bitcoins exposes the economy to unnecessary risks, such as the volatility of the crypto market. However, for El Salvador, the decision is not only financial, but also a political and strategic commitment.
The government of Nayib Bukele has insisted and demonstrated that Bitcoin can be a tool for financial inclusion in a country where a large part of the population lacks access to formal banking services. Furthermore, the use and adoption of this cryptocurrency is fostering technological, educational, and social innovation, boosting emerging economic sectors such as tourism and fintech, and exalting El Salvador's name in front of world powers and technological centers, such as the United States and Japan.
The 240 new coins accumulated since the agreement with the IMF are clear evidence that, despite the regulatory framework and international criticism, the strategy of maintaining and increasing the Bitcoin reserve continues. This reflects both internal confidence in the potential benefits of cryptocurrency and a version of economic sovereignty, where El Salvador seeks to maintain certain independent decisions in the face of external pressures.
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El Salvador defies criticism and embraces Bitcoin
El Salvador is experiencing a historic moment, having invested heavily in cryptocurrency, partially ignoring international recommendations despite the agreements in place with the IMF. The accumulation of 241 bitcoins since the signing of the agreement not only continues the "one bitcoin a day" policy initiated by Nayib Bukele, but also reflects an open challenge to traditional rules and a vote of confidence in the integration of digital assets as an integral part of the national economy.
The way the country makes these purchases, through mechanisms outside the public fiscal sector, has allowed it to formally comply with the international pact while continuing to strengthen its financial commitment.
Amid debate, criticism, and questioning, El Salvador demonstrates that the combination of bold policy and calculated strategy can set a precedent in the world of the modern, digital economy.
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