The President of El Salvador Nayeb Bocley stated that the country will continue to buy Bitcoin (BTC) despite the conditions set by the International Monetary Fund (IMF) in a recent financial agreement.
The International Monetary Fund has included restrictions on more bitcoin government purchases as part of a $ 3.5 billion financing deal, but Bokley made it clear that his administration has no plans to stop the accumulation of cryptocurrencies.
Bukele rejects bitcoin restrictions from the International Monetary Fund
The International Monetary Fund Agreement with El Salvador includes specific measures to limit the government’s participation with Bitcoin, including the ban on new acquisitions. However, the President of El Salvador Nayeb Poloble to reject These restrictions, publishing on social media that will continue bitcoin purchases.
“All this stops in April. He stopped in June. All this stops in December.” No, it does not stop, “he wrote an agent on X. He also added,” Proof of Work> Provinuation of Enterement “, indicating that his government is still committed to its bitcoin strategy despite external pressure.
The International Monetary Fund financing, at a value of $ 3.5 billion, includes measures aimed at regulating the use of bitcoin in the country. One of the paragraphs states that the public sector is prohibited from the “voluntary accumulation of Bitcoin”. However, shortly after the International Monetary Fund published this information, El Salvador announced the purchases of the new Bitcoin, adding 19 BTC over the past week and an additional symbol the next day.
El Salvador continues the accumulation of bitcoin
Despite the conditions of the International Monetary Fund, El Salvador continued to expand bitcoin reserves. The data indicates that the government now has about 6,101 BTC, which is estimated at about $ 530 million at the current market prices.
El Salvador has purchased Bitcoin daily since November 2022. The latest acquisitions followed many previous purchases that were conducted in January and February, even after the completion of the International Monetary Fund agreement. The government’s actions indicate a strong commitment to the Bitcoin strategy regardless of external regulations.
Michael Silor, co -founder of Microstrategy and a strong Bitcoin defender, was also weighed in the situation. In response, Silor, who was the reaction of President Nayeb Boucley, wrote, “Bitcoin’s dependence on the end of it,” which indicates his support for the Bitcoin’s ongoing strategy in El Salvador.
New International Monetary Fund rules in bitcoin transactions
The International Monetary Fund agreement also includes broader regulatory measures related to Bitcoin. As part of the deal, the government has to spread all the headlines used in bitcoin transactions. In addition, the audited financial statements of government entities related to encryption should be issued.
Another main condition is to filter the Fidebitcoin Trust box by July 2025, which was originally established to support Bitcoin’s accreditation in El Salvador. The government is also expected to withdraw direct participation in the Chivo portfolio system, the official Bitcoin payment platform in the country.
Other amendments are also made to Bitcoin. These changes aim to make Bitcoin acceptance voluntary rather than mandatory for companies. This represents a shift from the first Silvador position when it became the first country to adopt Bitcoin as a legal tender in 2021.
Technical and economic strategy for the broader technology and technology
While Bitcoin remains a major part of its financial strategy, the country is also working to expand its focus on technology and economic development. Bukele recently conducted discussions with prominent investors, including Ben Horowitz and Marc Andressen from A16Z, regarding artificial intelligence investments (AI).
The government is studying tax incentives and organizational frameworks to attract technology companies to the country that follows the steps of the United States during the era of President Donald Trump, who host the encryption summit to alleviate the growth of the encryption sector. Consequently, the Bukele administration aims to put El Salvador as the axis of innovation in Latin America while maintaining the Bitcoin strategy.
Despite the pressure from the International Monetary Fund, Al -Salvador’s leadership appears to be determined to continue its Bitcoin acquisitions with the demand for economic growth through new technological investments.
Kelvin Monin Murithi
Kelvin is a distinguished writer who has experience in encryption and financing, holding a Bachelor’s degree in Actura Sciences. It is famous for its careful analysis and insightful content.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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