IMF Continues Efforts to Maintain El Salvador's Bitcoin Holdings

According to PANews, the International Monetary Fund (IMF) has announced its ongoing efforts to ensure that El Salvador's government maintains its current level of Bitcoin holdings. This follows a $3.5 billion loan agreement reached in March between El Salvador and the IMF, which included conditions such as revoking Bitcoin's status as legal tender and prohibiting the public sector from voluntarily increasing its Bitcoin holdings. Despite these conditions, data indicates that El Salvador's Bitcoin reserves have increased from 6,101.15 BTC on March 4 to 6,189.18 BTC, valued at approximately $678 million. President Nayib Bukele has made it clear that the acquisition of Bitcoin will not cease, stating, "Even when the world isolates us and most Bitcoin enthusiasts abandon us, we did not stop, and we will not stop now or in the future." The IMF's latest report did not directly address this discrepancy but noted that El Salvador's project execution is proceeding well, with key fiscal and reserve targets being met.