As part of a $ 1.4 billion loan agreement, the IMF asks El Salvador to stop accumulating BTC. He also wants the country to avoid issuing debts and tokens supported by Bitcoin.
This decision could put President Nayib Bukele’s pro-bit program in a difficult situation.
The IMF pushes El Salvador to limit the use of bitcoin
A new political document describes how the government must limit the accumulation of BTC. The document stipulates that public sector entities cannot voluntarily buy or use Bitcoin. This restriction applies to government controlled portfolios such as the Chivo and the institutions. Like “Agencia Administradora de Bitcoin and Onicina Nacional del Bitcoin”. However, the BTC obtained through law implementation measures, such as crises, would not count for this restriction.
New: the @Imfnews Eveals Bukele agreed to provide the IMF internal information on #Bitcoin transactions, including cold and hot wallet addresses belonging to the Salvador government, the names of the people involved, and to regulate #Bitcoin Holdings in exchange for a bailout of $ 1.4 billion. pic.twitter.com/t7wkpdr3bl
– Ricardovalp on @bluesky
(@ricardovalp) March 3, 2025
(@ricardovalp) The IMF has long been skeptical about the adoption of the El Salvador BTC. He fears that the delivery of debts or tokens supported by a bitcoi will shake the boat on an already volatile market. The IMF argues that such measures could create financial instability and increase the country’s risk of debt.
Previously, El Salvador planned to issue BTC obligations – also called “volcan bonds” – to finance infrastructure and energy projects. But with the conditions of the IMF, these plans could be on thin ice. The government may now have to rethink its Bitcoin strategy if it wants loan approval.
Just in: the IMF is trying to block
– Bitcoin News (@bitcoinnewscom) March 4, 2025
$ 1.4 billion loan contract. Learn more about Bitcoin
The Mexican billionaire Ricardo Salinas, with a net value of $ 5.8 billion, made a daring bet on the BTC. He allocated 70% of his cryptocurrency investment portfolio, showing great confidence in his future.
Billionaire Ricardo Salinas Pliego said that Mexican president Claudia Sheinbaum was facing a “very difficult situation” with US President Donald Trump pic.twitter.com/Sewy0sr4lv
– Bloomberg TV (@Bombergtv) March 4, 2025
Salinas, a longtime defender of the BTC, believes that he offers protection against inflation and government control over money. Its heavy investment indicates a growing trend among the rich who see BTC as coverage against economic uncertainty.
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The IMF post Exhort El Salvador to stop Bitcoin’s purchases in the loan agreement appeared first on Altcoin Buzz.
