El Salvador Purchases More Bitcoin... Increasing Reserves Despite IMF Warnings

- The Government of El Salvador Adds 8 More Bitcoins to Its Reserves, Bringing the Total to 6,174.18 BTC - The Purchase Continues Despite the Official Withdrawal of Bitcoin Legal Tender Status as of January 2025 [Unblock Media] The government of El Salvador confirmed on May 14, 2025, that it has added more Bitcoin to its strategic reserves. This marks a continuation of the steady purchasing streak seen in recent weeks, highlighting that El Salvador still considers Bitcoin a core asset in its national economic strategy. According to announcements by the Ministry of Finance and the Bitcoin Office of El Salvador, 8 more Bitcoins were acquired in the past week, bringing the total reserves to 6,174.18 BTC. This is valued at approximately $641.5 million (around 870 billion KRW). Ever since becoming the first country in the world to adopt Bitcoin as legal tender in 2021, El Salvador has continued to purchase Bitcoin according to market circumstances. In December 2024, El Salvador signed a $1.4 billion bailout agreement with the International Monetary Fund (IMF), which included a condition that the government would not purchase additional Bitcoin using public funds. Consequently, in January 2025, Bitcoin's legal tender status was officially withdrawn, and its use is now allowed on a voluntary basis only. However, despite the IMF’s condition prohibiting purchases across the entire public sector, the government continues to buy Bitcoin through the Bitcoin Office. The IMF has expressed concerns, but the government of El Salvador maintains its stance that its Bitcoin strategy will not stop. El Salvador's Bitcoin acquisition policy remains a topic of controversy among global financial circles and investors. While the IMF and some economists warn of financial risks due to Bitcoin's price volatility, the government views Bitcoin as a hedge against inflation and a means to achieve economic independence. President Nayib Bukele has stated, "Even when the world turned away from us, we did not stop buying Bitcoin. And we will not stop moving forward." Meanwhile, El Salvador is also continuing its investments in related infrastructure such as Bitcoin mining utilizing volcanic geothermal energy and the construction of Bitcoin City. These initiatives suggest the potential for other emerging countries to consider adopting Bitcoin as a national strategic asset. - El Salvador Adds 8 BTC in the Past Week, Bringing Total to 6,174.18 BTC - Bitcoin Purchases Continue Despite IMF Agreement - Bitcoin Legal Tender Status Officially Withdrawn in January 2025, Voluntary Use Permitted - Government Asserts “Bitcoin Strategy Will Not Stop” Amid International Concerns and Controversy El Salvador's Bitcoin experiment continues to draw global attention in the financial markets.