El Salvador defies IMF deal, buys 240 more Bitcoins
El Salvador has acquired an additional 240 Bitcoin since December 19, 2024, following a $1.4 billion loan agreement with the International Monetary Fund (IMF) that included provisions discouraging further accumulation of the cryptocurrency.
The country's treasury wallet now holds 6,209 BTC, valued at approximately $664 million at current market prices.
Key figures
- Total BTC holdings: 6,209 BTC
- Value of holdings: Approximately $664 million
- Average purchase price: $45,450 per BTC
- Recent acquisition: 240 BTC since December 19, 2024
A deal with the IMF
In December, El Salvador finalized a $1.4 billion loan agreement with the International Monetary Fund, which stipulated that the government must revoke Bitcoin’s legal tender status and halt its official accumulation of the cryptocurrency.
The IMF agreement required El Salvador to drop Bitcoin's status as legal tender and cease public accumulation of BTC. However, the government has continued purchasing one Bitcoin per day, a strategy initiated by President Nayib Bukele in 2022.
IMF officials have acknowledged that El Salvador remains technically compliant with the agreement, as the purchases are conducted through the National Bitcoin Office, which operates outside the official fiscal sector.
Despite the IMF's concerns, El Salvador's Bitcoin holdings have appreciated significantly. The country's average purchase price is around $45,450 per BTC, resulting in substantial unrealized gains.
As El Salvador continues its Bitcoin accumulation strategy, the international community will be watching closely to assess the long-term implications for the country's economy and its relationship with global financial institutions.
We wrote earlier that Crypto losses popularity in El Salvador.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
