El Salvador Doubles Down on Bitcoin Buys—Even as IMF Looms Over Its Shoulder
Nayib Bukele’s government keeps stacking sats like there’s no tomorrow—despite signing a $1.4B IMF deal that probably included some very stern PowerPoint slides about ’fiscal responsibility.’
No brakes on the Bitcoin train: The Central American nation added 500 more BTC to its reserves this month alone, brushing off volatility and Wall Street eye-rolls. Economy Minister Alexia Quiros called it ’strategic accumulation’—translation: they’re buying the dip while traditional finance clutches its pearls.
Meanwhile, IMF accountants reportedly need stronger blood pressure meds. Because nothing says ’sound monetary policy’ like funneling taxpayer money into an asset that can swing 20% before lunch.
El Salvador Breaks IMF Promise, Purchases 7 BTC
According to El Salvador’s Bitcoin Office data, the Central American nation has acquired 7 Bitcoin worth more than $650,000 in the 7 days until April 29.
However, in a recent press briefing, Rodrigo Valdes, IMF’s director of the Western Hemisphere Department, confirmed that EL Salvador “continues to comply with their commitment of non-accumulation of bitcoin by the overall fiscal sector.”
“The program of El Salvador is not about Bitcoin. It’s much more, much deeper in structural reforms, in terms of governance, in terms of transparency,” he said.
Further, Bitcoin Office, which oversees the coin accumulation, posted on social media last week that the purchases still continue.
EL SALVADOR BUYS MORE BITCOIN
El Salvador has just bought 1 BTC for our Strategic Bitcoin Reserve.
New SBR total: 6,154.18
This is the way
pic.twitter.com/qXswTRfnzq
There is a Commitment to Accumulate Assets: Economy Minister
Minister Hayem added that the nation is committed to accumulating the assets and that crypto remains a priority.
“There’s a commitment of President Bukele to keep accumulating assets as a way to do precisely that,” she added.
Additionally, in yet another strategic move, El Salvador’s Ministry of Education has announced a financial literacy program for schoolchildren, which would include Bitcoin education.
The curriculum will initially roll out across 50 public schools located in the La Libertad department, an official release noted. The coastal department is recognised as the place of early and active Bitcoin adoption.
