El Salvador Increases Bitcoin Holdings Amid IMF Pressure

According to BlockBeats, data from El Salvador's Ministry of Finance reveals that the country has increased its Bitcoin holdings by one more unit, bringing the total to 6,180.18 Bitcoins, valued at over $638 million. In the past week, El Salvador has added eight Bitcoins, and in the last 30 days, it has acquired 31 Bitcoins, maintaining its plan to purchase one Bitcoin daily. In recent months, the International Monetary Fund (IMF) has pressured El Salvador to halt the accumulation of decentralized value storage assets. In December 2024, El Salvador reached an agreement with the IMF for a $1.4 billion loan. As part of the agreement, El Salvador agreed to revoke Bitcoin's status as legal tender and reduce public sector involvement with Bitcoin. On April 27, Rodrigo Valdes, Director of the IMF's Western Hemisphere Department, stated at a spring meeting press conference that El Salvador continues to adhere to its commitment not to accumulate Bitcoin in the overall fiscal sector, a key performance indicator in its agreement with the IMF.