El Salvador to Continue Bitcoin Buys Despite IMF Deal, Holdings Reach 6,101 BTC

Despite an agreement with the International Monetary Fund (IMF) to limit direct government involvement in Bitcoin activities, El Salvador's President Nayib Bukele affirmed on March 5 that the country will continue acquiring Bitcoin. Bukele stated that the country's Bitcoin purchases would not stop, even amid external pressures. Following his remarks, El Salvador's National Bitcoin Office confirmed a new acquisition, bringing the country's total holdings to 6,101 BTC, valued at approximately $530 million. This declaration comes after El Salvador agreed to ease its Bitcoin policies in exchange for a $1.4 billion financial aid package from the IMF, which includes stricter oversight of digital assets, barring voluntary Bitcoin purchases, except those obtained through legal enforcement actions. The IMF deal also requires the removal of mandatory Bitcoin acceptance for businesses and discontinuing tax payments in BTC.