El Salvador Continues Bitcoin Accumulation Despite IMF Pressure

According to BlockBeats, El Salvador has increased its Bitcoin holdings by one unit as of March 9, bringing its total to 6,105.18 Bitcoins, valued at over $527 million. In the past seven days, the country has acquired 13 Bitcoins, and over the last 30 days, it has added 36 Bitcoins to its reserves. Despite pressure from the International Monetary Fund (IMF) to halt the accumulation of decentralized value storage assets, El Salvador has continued its purchases, acquiring 13 Bitcoins since March 1. In December 2024, El Salvador reached an agreement with the IMF to secure a $1.4 billion loan. As part of this agreement, the Salvadoran government consented to revoke Bitcoin's status as legal tender in the country and to reduce public sector involvement with the cryptocurrency.