El Salvador Buy more bitcoin despite the warnings of the IMF

Bitcoin purchases (BTC) by El Salvador continue to be executed, even if there is a clause imposed by the International Monetary Fund (IMF) that requires the Government to stop its purchasing strategy.

According to the message posted in the official X account of the Bitcoin National Office, this July 5, 8 Bitcoin was purchased. Amount that carries the holdings of El Salvador about 6,229 BTC, equivalent to approximately 675,000 million dollars.

It is an acquisition that adds to the 1 BTC daily purchase program that the Nayib Bikele government has been executing since the late 2022 and that It is still in force.

As the site data dedicated to the Central American country in the Bitcoin network shows, in recent months, after signing the agreement with the IMF, daily purchases They have not been paralyzed.

This fact occurs despite the warnings of the international agency, which last May agreed to disburse about 120 million as part of the loan of 1.4 billion dollars signed last year.

As Cryptooticias reported, after agreeing on the delivery of a first sum of the loan, the IMF urged El Salvador to Do not buy bitcoin.

According to the IMF statements, the agency expects “efforts to continue to ensure that the total amount of Bitcoin in all governmental property portfolios will remain unchanged, in line with the program commitments.”

In this way, it has been understood that Bitcoin government purchases would be prohibited during the time the program lasts with the fund and that “there will be no voluntary accumulation of Bitcoins by the public sector.”

However, the continuation of daily purchases (even the latter of 8 BTC) This intention seems to contradict to keep holdings without changes. On this, neither the international body nor the Salvadoran government have made clear pronouncements.

The Bitcoin Office, in charge of the nationalized nationalized American Savality Stacy Herbert, argues that these actions They are not interrupted by the agreement; while the Director of the Western Hemisphere of the IMF, Rodrigo Valdés said that the key is that the country does not accumulate more bitcoin in its fiscal sector.

In none of these statements, details have been offered to specify how daily purchases enter the agreement, but have led them to classify them as “other financing paths.”

All this happens shortly after the changes made to the Bitcoin Law came into force. A measure that made the digital currency will cease to be legal tender.

And although the measure has deflated the interest of many bitcoiners in El Salvador, it does not disconnect the Central American country for the creation of Satoshi Nakamoto.