El Salvador’s Bukele Vows Bitcoin Buying Amid IMF Pressure

El Salvador Stands Firm on Bitcoin

El Salvador’s President Nayib Bukele has made a strong statement by deciding to continue buying Bitcoin, even when faced with pressure from the International Monetary Fund (IMF). The IMF wants El Salvador to reduce its involvement with cryptocurrency as a condition for a $1.4 billion loan[1][3]. Despite this, President Bukele is sticking to his plan to use Bitcoin as a part of El Salvador’s economic strategy, which he started in 2021.

Buying Bitcoin Despite IMF Pressure

El Salvador has been buying more Bitcoin even as the IMF tells them to stop. In early March 2025, they bought 5 more Bitcoins when the price was low, adding to their total of 6,100 BTC[1]. This happened even though the IMF said they should stop buying Bitcoin by July 2025[3]. President Bukele believes that Bitcoin can help change El Salvador’s economy for the better.

IMF Conditions and Economic Challenges

The IMF wants El Salvador to stop supporting the Chivo Bitcoin wallet and to tell everyone how much Bitcoin they have[3]. They want to do this to protect the government from the risks of cryptocurrency and to improve the country’s finances. Some people are not sure if President Bukele’s plan to use Bitcoin is working well, especially since many people in El Salvador haven’t started using it yet[3]. But the government still believes that Bitcoin can help the economy grow.

Looking Beyond Bitcoin

President Bukele isn’t just focusing on Bitcoin. He also wants to make El Salvador a place where technology can thrive. He has met with important tech investors to talk about using AI and other technologies, hoping to create rules that make it easy for new ideas to grow[1]. This could help El Salvador’s economy in many ways and make it less dependent on traditional industries.

Moving Forward Despite Challenges

In short, El Salvador is choosing to keep buying Bitcoin even though other countries are telling them not to. They’re also thinking about how technology can help their economy. Everyone will be watching to see if El Salvador’s plan to use Bitcoin works, because it could show other countries what to do in the future.

—

Sources:
– cryptobriefing.com
– tradingview.com
– coindesk.com