El Salvador, ever the iconoclast, has once again defied the establishment by acquiring 1,090 BTC, a move that would make even the most ardent capitalist blush with admiration-or perhaps horror.
El Salvador is actively buying the dip. In addition to its daily 1 $BTC purchases, the government just bought an extra 1,090.19 $BTC ($101M) an hour ago. This is according to data provided by Lookonchain. This is a big step in its continued Bitcoin strategy. 🤷♂️
El Salvador’s Defiance of IMF Amidst Bitcoin Accumulation
In July, two of El Salvador’s highest finance officials said the country had not purchased any Bitcoin since February. This is directly in contradiction to what President Bukele has said. An official report from the International Monetary Fund stated that the rise in Bitcoin holdings in the reserve fund is due to the consolidation of Bitcoin on different government-owned wallets. It suggested that these were not new purchases. This gives rise to conflicting stories about the country’s strategy of acquisition. 😏
El Salvador is buying the dip! 🇸🇻
On top of its daily 1 purchases, the government just bought an extra 1,090.19 ($101M) an hour ago.
– Lookonchain (@lookonchain)
However, the head of the Bitcoin Office, Stacy Herbert, previously stated El Salvador continues to buy Bitcoin. This is in defiance of the IMF deal. This is the nation’s reiteration of its commitment to its Bitcoin policy. 🎭
Related Reading: El Salvador to Launch Bitcoin Banks by End of 2025 | Live Bitcoin News
El Salvador became the first country to adopt Bitcoin as legal tender in Sept 2021. Since then, it has added to the holdings consistently. This policy has often been met with both support of crypto enthusiasts. It has also come under criticism from international institutions such as the International Monetary Fund (IMF). 🤯
The country has previously signed a loan agreement with the IMF of $1.4 billion. This agreement included a requirement on the public sector to stop purchasing new Bitcoins. This latest, important acquisition, which was announced by the country’s Bitcoin Office and President Bukele on social media, appears to be in defiance of those restrictions. 🕵️♂️
Largest-Ever Bitcoin Purchase and Its Implications
This large purchase made of over 1,000 BTC is El Salvador’s single largest acquisition yet. It notes the country’s aggressive stance on Bitcoin, in particular, during market downturns. This “buying the dip” strategy is meant to take advantage of price corrections to expand national reserves. 🧠
The defiance of IMF requirements has huge implications. It could put pressure on El Salvador’s relationship with international financial institutions. This may potentially affect future loan contracts or economic assistance. However, under President Bukele, it claims national sovereignty in the economic policy. It is also doubling down on a strategy that is believed to benefit the country’s long-term financial health. 🏛️
For the cryptocurrency community, this move represents a great vote of confidence. This reinforces the role of Bitcoin as a sovereign asset. It also inspires other countries to adopt similar strategies. This move by El Salvador continues to make it a trailblazer. It is leading the national adoption of Bitcoin. This ongoing saga between El Salvador and the IMF highlights the debate more generally. It has to do with incorporating cryptocurrencies into traditional global finance. 🤯
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2025-11-18 14:08