elsalvadorbtc

While many countries are still cautious about Bitcoin, El Salvador continues to show a tough stance when buying 2 more BTC on February 1, bringing the total Bitcoin reserves to 6,055 BTC (worth more than 612 million USD).
Notably, in the past 30 days, the country has purchased more than 50 BTC, exceeding the national reserve strategy's target of 1 BTC/day.

El Salvador Buys Bitcoin Despite Concessions to IMF
Despite signing a $1.4 billion loan agreement with the International Monetary Fund (IMF), requiring Bitcoin to be made an optional payment method, and privatizing the Chivo wallet, El Salvador persists in accumulating BTC.

With a 40-month, $1.4 billion International Monetary Fund’s Extended Fund Facility in place, the IMF restrictions on bitcoin purchases and the Bitcoin policy is now directly tied to El Salvador’s financial stability plan. In this context the IMF clarified that the recent announcement of the addition of more bitcoin to El Salvador’s reserves is “consistent with the agreed program conditionality”.
A key element in this agreement is that the government of El Salvador has committed to not accumulating more bitcoin. At least, that’s what most documents on the matter state. In its letter of intent dated on February 12 and included in the staff report published on March 3, El Salvador’s representatives subscribed to this agreement.
“Over the course of the program, the authorities have committed not to accumulate Bitcoins,” the Memorandum of Economic and Financial Policies attached to the letter signed by Central Bank President, Douglas Pablo Rodríguez Fuentes and Minister of Finance, Jerson Rogelio Posada Molina states. This is also included in the Policies Under The Extended Fund Facility Arrangement section.
After President Nayib Bukele apparently contradicted this through his X account, in which he posted that the accumulation is “not stopping,” many questions were raised, and comments regarding the alignment between the fund and El Salvador started to populate the popular social media platform.
I asked about this to the IMF’s communications department and their response suggests a more flexible interpretation.
“The government under the program has committed not to accumulate further Bitcoins at the level of the overall public sector. We consulted with the authorities, and they have assured us that the recent increase in Bitcoin holdings in the Strategic Bitcoin Reserve Fund is consistent with agreed program conditionality,” they replied.
So, if bitcoin reserves have increased as the Bitcoin Office reported through X, how does that align with the commitment not to accumulate more?
Loopholes Of The IMF Restrictions On Bitcoin Purchases
Taking the agreement, this new clarification and Bukele’s post there some room to explain this apparent contradiction.
The strategic bitcoin reserve may be structured to keep it outside the official public sector, allowing it to increase its holdings without violating the agreement.
Another option is that not all accumulation is a purchase nor mining. If bitcoin reserves are growing through other financial operations instead of direct public sector involvement it’s not technically “accumulation” in the sense of the agreement.
El Salvador could also be reclassifying assets. Bitcoin could be moving between government-controlled entities without being considered a new acquisition. This might be problematic, as the staff report also explicitly states that all the wallets –hot or cold– must be identified.
The friendly answer from the IMF also suggests good terms between the Fund and El Salvador’s administration. If reserves are increasing under a policy that supposedly prohibits accumulation, the fact that the Fund clarified shows that there’s a standard criterion that is more flexible than what the documents explain.
#ElSalvadorBTC

El Salvador has made waves once again, surpassing the 6,000 Bitcoin mark with its latest BTC purchase on December 29. The country now holds an impressive 6,000.77 BTC, valued at approximately $561.3 million, according to the National Bitcoin Office’s tracker.
📈 A Steady Strategy That Pays Off
El Salvador has consistently added to its Bitcoin treasury, showing remarkable growth:
19 BTC in the past week, worth $1.77 million.53 BTC in the last month, valued at $4.95 million.
The nation’s strategic accumulation has been highly profitable, with an unrealized gain of 105% based on an average acquisition cost of $45,465 per Bitcoin.
🌟 The Crypto Pioneer’s Journey
El Salvador made history on September 6, 2021, as the first country to adopt Bitcoin as legal tender. Starting with an initial purchase of 200 BTC, the nation has steadily increased its holdings despite skepticism from institutions like the International Monetary Fund (IMF).
The recent $1 million Bitcoin purchase followed a groundbreaking $1.4 billion agreement with the IMF, showcasing President Nayib Bukele’s unwavering commitment to cryptocurrency adoption.

🌍 Joining the Titans of Bitcoin
El Salvador now ranks as the sixth-largest Bitcoin-holding nation, joining global giants like the United States, China, and the United Kingdom.
The country's crypto strategy has paid off, with its portfolio gaining value during the recent market recovery. The unrealized gain from its BTC stash now stands at a staggering $152 million.
🚀 Beyond the Milestone
Through its National Bitcoin Office, El Salvador is not just accumulating BTC but also expanding cryptocurrency initiatives to further integrate digital assets into its economy.
President Bukele’s vision has turned the small Central American nation into a global crypto trailblazer, with its Bitcoin holdings now worth more than half a billion dollars—a testament to the power of long-term belief in blockchain technology.
💡 El Salvador’s Legacy in Bitcoin
This milestone solidifies El Salvador's position as a global leader in cryptocurrency adoption. The country's calculated and confident approach continues to inspire the world, proving that even bold bets can yield astronomical returns in the evolving crypto space.

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