On March 5, according to CoinDesk, El Salvador’s President Nayib Bukele reaffirmed that the country would continue accumulating Bitcoin despite all requests from the International Monetary Fund (IMF).
In a post on platform X, Bukele emphasized his determination to maintain the Bitcoin purchasing policy:
"When the whole world was against us, when most Bitcoin believers abandoned us, we still did not stop. We will not stop now, and we will not stop in the future. Proof of Work is stronger than Proof of Complaint."
This statement came shortly after the IMF released more details about a $350 million loan for El Salvador. According to the IMF, one of the loan conditions prohibits "voluntary Bitcoin accumulation by the public sector." This suggests that the IMF seeks to restrict the Salvadoran government from further Bitcoin purchases, especially since the country legalized BTC as an official currency in 2021.
However, El Salvador appears to have no intention of complying with this requirement. Immediately after the IMF’s announcement, on the evening of March 4, the Salvadoran government revealed that it had purchased an additional 19 Bitcoins over the past seven days. By the afternoon of March 5, the country further announced another Bitcoin purchase. This demonstrates Bukele’s administration’s unwavering commitment to the "buy Bitcoin every day" strategy, despite pressure from international financial institutions.
As of now, El Salvador holds a total of 6,101.15 BTC, with an estimated value of approximately $530 million, based on Bitcoin’s price of around $88,000. El Salvador remains one of the few countries in the world that has incorporated Bitcoin into its national reserves as part of its long-term economic strategy.