El Salvador is well known for its Bitcoin adoption strategy with the country now holding 6,101 BTC. However, as reported by the Blockchain News on Mar. 4, 2025, the International Monetary Fund (IMF) restricted El Salvador from buying any more Bitcoin for its reserve. This restriction came as part of the requirements for the IMF to issue a loan of $1.4 billion to El Salvador.
Despite the arrangement with the IMF, the president of El Salvador, Nayib Bukele, went ahead to confirm that the country will not stop purchasing Bitcoin. This has stirred up the crypto community with Strategy’s Michael Saylor backing him up.
Bukele Holds His Stance Against Stopping Bitcoin Purchases
The president of El Salvador has continued to express his strong stance against stopping Bitcoin purchases despite IMF ban. Bukele shared on X yesterday stating that “no, it’s not stopping.” His statement serves as a reply to critics that believe “This all stops in April.” “This all stops in June.” “This all stops in December.”
He further added, “If it didn’t stop when the world ostracized us and most “bitcoiners” abandoned us, it won’t stop now, and it won’t stop in the future.” Bukele’s statements confirm that El Salvador won’t stop its Bitcoin-first adoption strategy ever.
Additionally, the founder of Strategy (formerly MicroStrategy), Michael Saylor, has supported Bukele’s strong stance. Saylor replied to Bukele’s post remarking “Bitcoin adoption is unstoppable.” Strategy currently holds a total of 499,096 BTC according to live data on BitBO.
What Will Happen To The El Salvador-IMF Financial Deal?
The IMF executives recently approved the $1.4 billion Extended Fund Facility (EFF) financial aid for El Salvador. One of the major conditions for this arrangement was for the country to stop more BTC acquisitions moving forward. According to the press release issued by the IMF regarding the approval of the EFF to El Salvador, the international organization made it clear of its ban of Bitcoin purchases in El Salvador moving forward.
“Going forward, program commitments will confine government engagement in Bitcoin-related economic activities, as well as government transactions in and purchases of Bitcoin,” Nigel Clarke, the Deputy Managing Director and Acting Chair of IMF stated. He also added that the IMF would regulate and supervise digital assets “in line with evolving international best practices.”
El Salvador is thus required to adhere to IMF’s restrictions with the broad political and public support considered critical for the success of the IMF program. Bukele’s stance against the IMF’s Bitcoin acquisition restriction could weaken the country’s relationship with the international body. This might lead to a delay in the $1.4B loan together with intensified conditions. However, the IMF is yet to issue a response regarding this matter.
Bitcoin’s Performance Following Bukele’s Strong Stance Against IMF
President Nayib Bukele confirmed that El Salvador bought 5 more BTC recently as the price of BTC fell. But Bitcoin seems to have found its footing again and has climbed to the $90K level. Currently, BTC is trading at $90,079.76 marking a 7.3% surge in the Wednesday session.
Regardless of the IMF pressure against El Salvador’s Bitcoin strategy, the president has expressed strong commitment to Bitcoin. While this may pose risks for his country, Bukele’s bullish stance on BTC is still unshaken.
