The post How can Bukele still stack Bitcoin after IMF loan agreement? appeared on BitcoinEthereumNews.com.

Salvadoran President Nayib Bukele raised eyebrows among industry observers on March 4 when he said that his government’s Bitcoin purchases won’t stop, despite a requirement from the International Monetary Fund (IMF). El Salvador struck a $1.4 billion loan deal with the IMF in January on the condition that it walk back Bitcoin (BTC) adoption and declassify it as compulsory legal tender. On March 3, the IMF released a report outlining the terms of the agreement, noting that it would prohibit the public accumulation of Bitcoin — i.e., the government or government-controlled entities couldn’t buy Bitcoin or mine it. Bukele, seemingly defiant, said his country would continue accumulating Bitcoin anyway. The apparent conflict between Bukele’s Bitcoin plans and the IMF’s terms has raised questions about the future of El Salvador’s Bitcoin accumulation and the potential fallout from a conflict with the lender.  Source: Nayib Bukele Bukele’s recent Bitcoin buy doesn’t necessarily “conflict” with IMF deal Among the many details contained within the collection of documents the IMF published on March 3, one particular clause caught the eye of Bitcoiners, namely that “there will be no voluntary accumulation of Bitcoins by the public sector in the context of the program.” Bukele took to X on March 4, stating that Bitcoin accumulation is “not stopping” as the country bought another coin to add to its national reserves.  El Salvador buys another Bitcoin for its reserve on March 4. Source: National Bitcoin Office of El Salvador The apparent contradiction caught the eye of Samson Mow, CEO of Bitcoin adoption advocacy organization Jan3, who stated in a March 5 post that the “two things seem to be in conflict with one another.” The IMF’s requirement on public Bitcoin investment — and Bukele’s subsequent remarks — came as a shock to many. But as John Dennehy,…

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Filed under: News - @ March 7, 2025 5:17 am