El Salvador Continues Bitcoin Accumulation Despite IMF Concerns, Holdings Now Profitable

Despite warnings from the International Monetary Fund (IMF), El Salvador's President Nayib Bukele remains committed to his Bitcoin strategy, continuing to purchase one Bitcoin daily. This decision comes even as the IMF urges the nation to cease accumulating Bitcoin as part of a $1.4 billion funding deal. El Salvador's Bitcoin holdings, estimated to be over 2,800 BTC, have reportedly turned profitable as Bitcoin's price has surged, potentially yielding unrealized profits exceeding $30 million. While the IMF has expressed concerns about the risks to financial stability, Bukele believes Bitcoin will benefit El Salvador's economy in the long run, increasing access to money and investment opportunities. The IMF advises El Salvador to focus on traditional banking policies and limit Bitcoin use, citing price volatility as a risk to potential gains. Bukele has repeatedly downplayed anxieties from international financial institutions. The long-term outcome of El Salvador's Bitcoin strategy remains uncertain, generating both enthusiasm and controversy.