El Salvador Continues Buying BTC Despite IMF Deal
El Salvador continues to acquire Bitcoin despite its agreement with the International Monetary Fund (IMF) to limit its Bitcoin purchases.
The Central American country recently added 6 BTC to its holdings on Sunday, increasing its total Bitcoin reserves to 6,111.18 BTC, valued at approximately $504 million at current market prices. This is up from 6,072 BTC on February 9, according to the nation’s Bitcoin Office.
In December, El Salvador secured a $1.4 billion loan deal with the IMF, with the entire package expected to exceed $3.5 billion.
As part of the agreement, the country committed to reducing its Bitcoin activities in return for the funding. In January, the Legislative Assembly passed a bill to meet the IMF’s conditions, as reported by Reuters.
