​El Salvador’s President, Nayib Bukele, has reaffirmed the nation’s commitment to Bitcoin by announcing the purchase of an additional 11 BTC, valued at over $1 million, for the country’s strategic reserves.

This move comes despite the International Monetary Fund’s (IMF) recent $1.4 billion loan agreement, which includes stipulations aimed at limiting the country’s exposure to the cryptocurrency. ​

In December 2024, the IMF approved a $1.4 billion loan to support El Salvador’s economic reforms, contingent upon reducing Bitcoin-related risks.

The agreement requires El Salvador to make Bitcoin acceptance voluntary for businesses, cease accepting tax payments in Bitcoin, and gradually reduce government involvement in the official Chivo wallet.

Despite these conditions, Stacy Herbert, director of El Salvador’s National Bitcoin Office, confirmed that Bitcoin remains legal tender and that the government plans to continue its Bitcoin acquisitions, potentially at an accelerated pace. Since adopting Bitcoin as legal tender in 2021, El Salvador has accumulated 5,968 BTC, currently valued at approximately $598 million. ​

The IMF has expressed concerns about the financial and economic risks associated with Bitcoin’s volatility and has urged El Salvador to limit its exposure to the cryptocurrency.

Nevertheless, President Bukele’s administration continues to advocate for Bitcoin’s potential to drive economic growth and financial inclusion in the country.