El Salvador President Naibe Bukere said his government will not stop buying Bitcoin despite new demands from the International Monetary Fund.
On March 3, the IMF issued a new request for an extension agreement based on a $1.4 billion fund facility to El Salvador.
“No, it's not stopped,” Buquel confirmed on the X-Post on March 4th that El Salvador would not comply with the IMF's request.
“If the world expels us and most 'bitcoiners' abandon us, if it doesn't stop, it won't stop now, it won't stop in the future,” he added.
Source: Nayib Bukele
El Salvador continued to purchase at least one Bitcoin on March 4th as part of the Central American country's financial strategy.
The IMF's March 3 memorandum also called on El Salvador to halt Bitcoin mining activities and limit the public sector issuance of sectarian or indexed debt or tokenized equipment in Bitcoin.
Bukele has revealed that El Salvador will continue to stack up Bitcoin, but it is not clear whether the country will comply with other demands.
The National Bitcoin Office in El Salvador did not immediately respond to requests for comment.
Related: Bitcoin, crypto companies move to El Salvador, but successful bank access
The country initially secured a $1.4 billion funding agreement from the IMF in December 2024 in exchange for reducing its Bitcoin-related initiatives and other factors.
Some of these measures included voluntary Bitcoin payments and tax payments in US dollars.
El Salvador currently holds 6,101 Bitcoins worth $534.5 million, according to data from the El Salvador National Bitcoin Office.
The country has the sixth largest Bitcoin Stash, the nation tracking only the US, China, the UK, Ukraine and Bhutan, shown by Bitcoin Treasury Ministry data.
El Salvador began purchasing Bitcoin in September 2021.
Bitcoin's status as a legal currency was narrowed down to allow El Salvador to pass the law in January and voluntarily accept BTC to private sector merchants.
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