IMF: Will Continue Efforts to Ensure El Salvador Does Not Accumulate More Bitcoin

PANews reported on May 28, according to CoinDesk, that the International Monetary Fund (IMF) stated it will continue efforts to ensure that the amount of Bitcoin held by the Salvadoran government remains unchanged. Previously in March, El Salvador reached a $3.5 billion loan agreement with the IMF, with conditions including the revocation of Bitcoin's legal tender status and the prohibition of voluntary Bitcoin accumulation by the public sector.

However, data shows that El Salvador's Bitcoin reserves have increased from 6,101.15 BTC on March 4 to the current 6,189.18 BTC (valued at approximately $678 million). President Bukele has clearly stated that the purchase of Bitcoin will not stop, saying, "Even when the world isolated us and most Bitcoin enthusiasts abandoned us, we did not stop, and we will not stop now or in the future." The IMF's latest report did not directly mention this contradiction, only stating that El Salvador's "project implementation is going well," with key fiscal and reserve targets having been met.