President El Salvador: Bitcoin purchase will not stop due to IMF agreement

PANews March 5th news, according to CoinDesk, El Salvador, led by the country's President Nayib Bukele, obviously has no intention to stop accumulating Bitcoin, regardless of the International Monetary Fund (IMF). Bukele posted on X platform that El Salvador will not stop accumulating Bitcoin: "When the whole world excludes us and most of the 'bitcoin believers' abandon us, it has not stopped, it will not stop now, and it will not stop in the future. Proof of Work is greater than proof of complaint."

Shortly after Bucker posted on social media, the International Monetary Fund released more details of its $3.5 billion loan agreement with the Latin American country. The IMF claims that it has banned “voluntary accumulation of bitcoin in the public sector” as part of its loan package. Perhaps in response to the IMF post, El Salvador disclosed late Monday that it had purchased 19 bitcoins in the past seven days, and then on Tuesday afternoon, it announced that it had purchased an additional token on that basis. The El Salvador government currently holds 6101.15 bitcoins, which is worth about $530 million based on the current price of Bitcoin at about $88,000.