El Salvador has strengthened his dedication to Bitcoin, despite repeated warnings from the International Monetary Fund (IMF).
On March 9, the Bitcoin office of El Salvador confirmed That the country has acquired six BTC for around $ 500,000.
According to the statement, the country -led country has added five BTC to its reserves by Nayib Bukele, while he buys one BTC every day.
After this acquisition, the country built 18 BTC in the past week – observed at around $ 1.4 million -.
According to official factsThis brings the total Bitcoin purchases from El Salvador in March to around 19 BTC. The country now owns around 6,111 BTC, worth more than $ 504 million at current market prices.
In the meantime, this last purchase coincides with the recent market fall in Bitcoin of around 12%, with prices that fluctuate around $ 80,000.
Stacy Herbert, director of the Bitcoin office of El Salvador, emphasized that the country repeatedly used the market to strengthen its participations. She noticed that El Salvador made similar purchases during the last three big dips from Bitcoin.
IMF voltages
Despite the first agreements between the two parties, the continuous Bitcoin purchases from El Salvador directly challenge the conditions of the IMF that is linked to a financial aid package of $ 1.4 billion.
Last week the IMF published a report in which his proposed agreement with El Salvador was explained after almost four years of negotiations. The deal required the country to reduce the involvement of the public sector in Bitcoin-related activities and implement stricter rules for digital asset monitoring to adapt to international financial standards.
In addition, the IMF tried to limit the Midden -American country to voluntarily buy Bitcoin, including acquisitions through mining activities. The agreement allocated Bitcoin Holdings only of epileptic seizures, forfeiture and other legal actions.
In particular, El Salvador had previously adjusted his policy to accommodate international concerns, including the withdrawal of the requirements for companies to accept Bitcoin and to reduce the use for tax payments.
The continuous purchases, however, suggest a dedication to the best crypto. President Bukele maintains the position of the country and emphasizes that BTC acquisitions would continue.
