The IMF asked to slow down. Al Salvador said no. The President of the President Jukele added five more bitcoins to his treasury, extended its reserves from 6,1111 BTC – a very institution defying the institution that gave it a loan of $ 1.4 billion a few months ago. What is this bold attitude running?
Al Salvador defeated IMF
Al Salvador is not returning to Bitcoin (BTC), no matter what the International Monetary Fund says.
On March 10, the South American nation added five more bitcoins to its treasure, making its total holding 6,1111.18 BTC, which was about $ 509.5 million at current market prices.
This step comes a few months after finalizing $ 1.4 billion agreement With the IMF in December 2024, part of the financial package of $ 3.5 billion is part of the country’s economy.
As part of the deal, Al Salvador agreed to a set of terms: Use of bitcoins in the private sector will remain voluntary, government’s participation in crypto transactions will be extended, and taxes will be paid in US dollars.
State-backed Chivo Wallet, once a symbol of the country’s bitcoin ambitions, would gradually be phased, while the regulatory inspection of digital assets would be tightened.
Nevertheless, instead of retreating, the administration of President Naib Bucle is moving forward. Despite the reservation of IMF, why is the country still collecting bitcoins? And what does this disregard do to the rest of the world? Let’s break it.
A tireless accumulation competition
When Al Salvador joined hands with the IMF on 18 December, its bitcoin holdings were at 5,967 BTC. Since then, instead of stopping or reversing the course, the country has Keep deposit An additional 144 BTC, beyond 6,111 BTC, carries forward its total reserve.
While its general practice is to acquire 1 BTC per day, a pattern installed under the President’s “bitcoin DCA” (dollar-to average) strategy, there have been several occasions where purchases have exceeded this regular accumulation.
The first such example came two days after the IMF deal, when Al Salvador bought 11 BTC on 20 December.
Two days later, on 22 December, it bought another 1 BTC, only on the same day to follow with another 11 BTC-brought a total of 12 BTCs, single largest acquisition on post-IMF agreement.
The trend continued in 2025, with notable purchases including 11 BTC on 9 January, one and 12 BTC on 4 February, 8 BTC on 4 February, and 6 BTC on 4 March. On 4 March. Latest Purchase, 5 BTC on 10 March.
This accumulation makes even more striking is the background against which it is happening.
In January, the Legislative Assembly of the country pass A bill for the purpose of aligning with the conditions of IMF, a step that indicated compliance on paper. Nevertheless, when it comes to real bitcoin policy, the government’s government has not shown any hesitation in defying expectations.
Even after IMF Repeated Its stance on 3 March, clearly stating that future commitments required alla salvador, which “to limit government engagement in bitcoin -related economic activities, transactions and shopping”, the administration has so far replied with another bite buying another bitcoin.
Bukele himself has made it clear that Al Salvador has no plans to move away from their bitcoin use. On 5 March, the President rejected speculation that the country’s bitcoin would stop purchasing, referring to previous critics who had repeatedly predicted its collapse.
“It all closes in April.” “It all closes in June.” “It all closes in December.” Bukele wrote in a post on X (East Twitter). “No, it is not stopping. If this does not stop when the world provoked us and most ‘bitcoins’ left us, it would no longer close, and it will not stop in the future. ,
Bitcoin bet and its wave effect of Al Salvador
Whether or not the world likes it, the tireless pursuit of Al Salvador is already a powerful example. One of the most obvious signs of this innings is how the crypto firms are now moving towards Al Salvador.
In January, Bitfinex derivatives obtained a digital asset service provider (DASP) license, inspiring the company to transfer its operation from Seychelles to Al Salvador.
The move was seen as a major support for the country’s regulatory stance, in which BitfinX CTO Paolo Erdoino called it a “defined moment”, which exposed the increase in the Global Financial Center of L Salavador.
After its leadership, the world’s largest Stabelcoin – Tether (USDT) also decided to transfer its headquarters and subsidiaries to Al Salvador after obtaining local licenses.
The leadership of Tether, including CEO Paolo Edino and COO Claudia Lagorio, has moved a step ahead, achieving real estate and citizenship in the country.
And there is already a infrastructure to support them. The Digital Assets Securities Law of Al Salvador, passed in January 2023, laid the foundation for companies to tokens everything from loans and equity to real estate and investment funds.
Other companies have already taken notice. Strike, Bitcoin Payment Company, Selected Al Salvador as its regional base in 2023.
Volcanic energy, a bitcoin mining project operated by renewable energy, is developing 241 MW mining forms in the country.
As a result, Al Salvador is developing in a unique crypto jurisdiction. Unlike other nations, who have legalized only bitcoins for transactions, it is building an entire financial ecosystem where digital assets can flourish, business capital can raise capital, and investors can engage in token markets.
Defending IMF: a risky gamble?
Defeating the IMF never remained without results. History suggests that pursuing a country or independent financial strategies challenging its conditions often faces economic vengeance in a subtle but effective ways.
For example, Argentina collided with IMF on frequent debt restructuring and fiscal policies, only currency devaluation, capital flight, and tolerate restricted access to global credit markets.
Greece, during its debt crisis, faced a similar decline, when it was initially opposed to the IMF-laughed penance measures.
While the IMF rarely takes direct punitive action, its impact on global financial systems ensures that resistance comes at a price.
The recent statement of the IMF on March 3, re -confirming the bitcoin restrictions, may not be a highly warning, but it indicates increasing pressure.
If stress increases, the country can withstand a strict debt position, high lending costs, or even funding delays. Rating agencies, who are already careful with their bitcoin strategy, can reduce their credit ratings further, which can make the exterior lending rapidly expensive.
There is also a risk of regulatory isolation, where international agencies discourage investment in El Salvador due to their bitcoin exposure.
Nevertheless, an alternative landscape is equally possible. If Al Salvador’s strategy proves successful, the effect may be deeper. Countries struggling with a limited access to weak currencies, high inflation, or global financial markets can see the use of bouquet as proof that a parallel financial system can work.
However, bets remain high. Al Salvador still depends on the IMF, making it a risky gamble. A long -term bitcoin bear market or extreme instability can put heavy stress on the government’s approach.
For now, the President is unwavering, and despite the risks, Al Salvador’s bitcoin-first approach continues to attract attention, investment, and attract businesses.
