El Salvador President Nayib Bukele has announced that the country’s government will continue to buy bitcoins, despite demands from the International Monetary Fund (IMF).
On March 3, the IMF, which issued a $1,4 billion loan to El Salvador, banned by the Salvadoran authorities accumulate BTC by purchasing and mining coins. Officials were allowed to accumulate only digital assets confiscated from criminals. However, Bukele refused to submit to the international organization.
«We will stop in April.» «We will stop in June.» «We will stop in December.» No, we will not stop. If we did not stop when the world treated us with contempt and most «bitcoiners» abandoned us, then we will certainly not stop now and will not do so in the future, Bukele wrote.
Nayib Bukele
Bukele attached an image to his post showing the evolution of the amount of bitcoin in El Salvador’s balance. According to the chart, on March 4, the country’s authorities bought 1 BTC, so the number of coins in the state-owned wallet increased to 6,101, worth $527,2 million. The Salvadoran authorities plan to buy one bitcoin per day, as they did in February 2025, in order to gradually increase the cryptocurrency reserves.
Statistics on Bitcoins in the Government of El Salvador’s Balance Sheet
Many social media users were perplexed by the news that El Salvador continued to invest in bitcoins. People had many questions that Bukele has not yet answered. For example, people are interested in what plan the authorities will follow, violating the IMF ban, and where they will get the money to buy BTC.