El Salvador Ignores IMF, Buys More Bitcoin Anyway

[MinoRaiola]

IMF will stop pushing El Salvador when other countries also buy bitcoin and make it public. Then the community will be bigger and the IMF will not be fight against everyone. That is why Bukele is strong and keeps going, he knows exactly whats coming. That is exactly what Bitcoin need when others join in. If El Salvador lose this fight, then other countries have a reason “not to buy”, or not to publish it. I am sure that many others have already bought bitcoin.

[Alpen]

On new US administration I guess US is the one who want to gather experience from El Salvador that's why Bukele and Trump meet up happened. El Salvador will stand and I believe they continue to accumulate even if US is out of their scope.

Honestly, El Salvador’s “Bitcoin experiment” has been mostly a letdown so far.

Most citizens and businesses didn’t really adopt BTC — they had to roll back the law that made Bitcoin acceptance mandatory.

Miners never showed up for the geothermal dream, and there’s no investor gold rush happening either.

Meanwhile, in parts of Africa, people actually use Bitcoin day-to-day — not because of government policy, but because they need it. That’s real grassroots crypto adoption.

[Marvell1]

Don't we think El-Salvador know what they are doing, they aren't bending their rules here s many had thought, complying to IMF directives and still investing more in bitcoin by accumulating on continuous pattern, this show that they re more of something, there's plan ahead more bigger than what IMF would have thought for, because of all that is happening, bitcoin accumulation is far better than them all,

It depends. While bitcoin is a potential investment, investing in it is not always the right decision. If investing and holding bitcoin has such great benefits as you say, El-Salvador would have invested in it since 2021, but why do they still need to borrow money from the IMF?

Do you know what El Salvador is facing? They are facing high public debt, budget deficit...and bitcoin cannot help them in this case.


So far, the IMF has not disbursed any loans, I would not be surprised if El Salvador breaks its rules and accepts the IMF's request. Because the economy and people's lives must still come first.

[MArsland]

A lot of Bitcoiners actually don't understand what's going on and paints IMF in a bad light. Now, El Salvador needs loans from IMF and that is the core issue. They have the rights to dictate what the country should do with the funds. It's perfectly normal for them to be able to dictate what should be done with the money and what shouldn't.

Primarily, IMF's goal is to help countries through financial aids and loans. To do so, the country themselves must be able to implement sound policy to achieve long-term and sustainable growth. Agree to the terms if you want their aid, if you don't want to agree to theirs, then there is no good reason why you should kick up a fuss when they refuse to commit to the loans.

Maybe the IMF does not want El Salvador to be an example that every country will follow because it will clearly make any country able to quickly pay off the loans that the IMF provides and is considered the profit that comes from the bubble. From here we already understand what the IMF task is like and what is clear is that they are worried if the influence or example of El Salvador becomes a new benchmark in the global financial industry.

[ranochigo]

Maybe the IMF does not want El Salvador to be an example that every country will follow because it will clearly make any country able to quickly pay off the loans that the IMF provides and is considered the profit that comes from the bubble. From here we already understand what the IMF task is like and what is clear is that they are worried if the influence or example of El Salvador becomes a new benchmark in the global financial industry.

Anyone who has some knowledge of IMF works understands that the interest rates that they charge are far lower than the global benchmark across the financial institutions. IMF doesn't think that El Salvador can pull themselves out of poverty by using Bitcoin, or similar investments. They are meant for the development of their country, and purchasing Bitcoins doesn't help with that at all.

IMF would love to have countries to pay off their loans ASAP, because both sides stands to benefit. They aren't loan sharks and this is a conspiracy that is clearly disproven.

[Lucius]

IMF will stop pushing El Salvador when other countries also buy bitcoin and make it public. Then the community will be bigger and the IMF will not be fight against everyone. That is why Bukele is strong and keeps going, he knows exactly whats coming. That is exactly what Bitcoin need when others join in. If El Salvador lose this fight, then other countries have a reason “not to buy”, or not to publish it. I am sure that many others have already bought bitcoin.

Will the IMF ever say anything negative about the US having BTC strategic reserves or Pakistan planning to do the same? Of course, this will not be the case because they can blackmail only those small countries that have no choice but to submit and accept all the conditions that have been set for them.

I honestly don't see what kind of battle El Salvador can lose, unless someone still believes that Bitcoin can save them from decades of corruption and economic mismanagement. On the other hand, any country that decides to invest in Bitcoin in any way should do so in the most private way - because otherwise they are not doing themselves any favors if the price rises due to this news.

[Dr.Bitcoin_Strange]

There's no reasonable reason to why IMF would ask El Salvador not to buy Bitcoin, the country already knows their ground for such investment and the advantage they will get for investing into Bitcoin can not be served by IMF, regardless of the loan they were to give, but the country can not abide by all their terms, at least they also have their own reasons for adopting Bitcoin.

[Ivystar5]

IMF will stop pushing El Salvador when other countries also buy bitcoin and make it public. Then the community will be bigger and the IMF will not be fight against everyone. That is why Bukele is strong and keeps going, he knows exactly whats coming. That is exactly what Bitcoin need when others join in. If El Salvador lose this fight, then other countries have a reason “not to buy”, or not to publish it. I am sure that many others have already bought bitcoin.

Will the IMF ever say anything negative about the US having BTC strategic reserves or Pakistan planning to do the same? Of course, this will not be the case because they can blackmail only those small countries that have no choice but to submit and accept all the conditions that have been set for them.

I think they already raised concern towards Pakistan publications, here is a thread (IMF raises concern over Pakistan’s Bitcoin mining power plan) basically I usually think IMF is just an instrument of the US government because they wouldn't say anything regarding the US but they already show concerned for Pakistan.

Whenever it has to do with small or countries with less capacity or power IMF seem to interrupt. IMF intimidate most countries that they support with loans and I guess that's the major regrets any country that is under its loans will face if ever publish bitcoin plans.

[Sticky Bomb]

There's no reasonable reason to why IMF would ask El Salvador not to buy Bitcoin, the country already knows their ground for such investment and the advantage they will get for investing into Bitcoin can not be served by IMF, regardless of the loan they were to give, but the country can not abide by all their terms, at least they also have their own reasons for adopting Bitcoin.

I think it's in the loan agreements not to invest in volatile assets, but Bukele knows exactly what he's doing and is going against the agreements to purchase Bitcoin everyday. I am free to predict that the reason he's making their purchases public is because of his Bitcoin City dream, so as to show strong support for Bitcoin which is their second legal tender and keep watering the interests of potential investors in Bitcoin City. Aside this I don't think there's any reason a government should make their accumulation public since Bitcoin is better treated with great anonymity and privacy.

[lizarder]

IMF says “stop buying crypto” and El Salvador buys 8 more BTC.

A fresh $1.4B loan deal urges limits but Bukele’s Bitcoin Office isn’t backing down.

This is a good move by El Salvador because they are confident that the decision they are taking will be very beneficial. A country that has control over its financial value will be much easier to determine the steps and on the other hand this can make them grow faster in terms of the country's economy. The IMF can issue any instructions but the decision made by El Salvador is final because they are one of the to adopt bitcoin as an investment asset and as a legal transaction tool.

The legal loophole is that the office isn’t part of the fiscal sector so daily buys roll on,

IMF praises economic progress but can’t stop the sats stacking,

If they can't stop then there is no point in issuing instructions to stop El Salvador from continuing to buy bitcoin. In certain conditions they praise the economic progress of the country, but the IMF is too afraid to say that Bitcoin is one of the best assets ever.

[yudi09]

IMF says “stop buying crypto” and El Salvador buys 8 more BTC.

A fresh $1.4B loan deal urges limits but Bukele’s Bitcoin Office isn’t backing down.

This is not a new news or discussion that is being talked about but the IMF banning El Salvador with its Bitcoin has been going on for a long time because Nayib Bukele is still holding on to his belief in their adoption of Bitcoin.
Data-wise and logically, the IMF gives a reason that makes sense when people read it. The problem is whether they believe it when they juxtapose what the IMF says with the reality in El Salvador.

[CryptoYar]

Anyone who has some knowledge of IMF works understands that the interest rates that they charge are far lower than the global benchmark across the financial institutions. IMF doesn't think that El Salvador can pull themselves out of poverty by using Bitcoin, or similar investments. They are meant for the development of their country, and purchasing Bitcoins doesn't help with that at all.

IMF would love to have countries to pay off their loans ASAP, because both sides stands to benefit. They aren't loan sharks and this is a conspiracy that is clearly disproven.

It is true that IMF offers lower interest rates than regular banks aiming to help countries grow rather than make profit so calling them loan sharks isn't accurate.

However saying there is no conspiracy at all might be too simple as IMF mostly requires countries to follow certain economic rules that can be tough on their people and poor countries do not always have other options.

For instance IMF is wary of El Salvador Bitcoin choice because they prefer stable investments for development like building roads or schools as compare to these digital currencies. So while IMF wants to help its methods and expectations can clash with new ideas like using Bitcoin and El Salvador is facing this and my country Pakistan is facing now after announcing 2000MW electricity for Bitcoin Mining.

[ranochigo]

However saying there is no conspiracy at all might be too simple as IMF mostly requires countries to follow certain economic rules that can be tough on their people and poor countries do not always have other options.

For instance IMF is wary of El Salvador Bitcoin choice because they prefer stable investments for development like building roads or schools as compare to these digital currencies. So while IMF wants to help its methods and expectations can clash with new ideas like using Bitcoin and El Salvador is facing this and my country Pakistan is facing now after announcing 2000MW electricity for Bitcoin Mining.

Again, poor countries are not forced to hold their currencies in a certain currency. In fact, any country that is less well off is likely not going to do so, because it doesn’t benefit their monetary system. This is not a conspiracy either.

You practically outlined the clear reason why IMF is against this entire proposal in the first place. Sustainable economic growth is not achieved in the long term by being exposed to unnecessary risks with uncertain returns. IMF is absolutely right in enforcing this and there is no argument that Bitcoin could be better than developing their subpar economic system. This isn’t a gamble that anyone, much less a country that is so heavily reliant on loans and aid should take.

[LGD2Business]

The IMF has the audacity to interfere in the internal affairs of the countries it lends money to. I'm glad Bukele is taking a stand. El Salvador's BTC reserve is in good shape and they are still buying. When many countries start doing the same thing, the IMF will stop interfering in these matters. If they think the debt will not be repaid, they are wrong. At least it won't be because of BTC but other economical or political reasons.

[Kavelj22]

IMO that's a good move to show the finger to the group that thinks it can threaten and blackmail countries.

The IMF claims to be positive organization, aimed at helping countries in need, but in reality those who receive money from the IMF end up being framed into in a long-term dependency. The IMF claims that its loans are short-term help, but the statistics show otherwise.

Also, the IMF is supposed to be impartial - that's their own claim. How is bullying other countries to make them ban bitcoin impartial?

IMF does not grant loans without collateral, and this is its policy, which everyone knows, since only countries in a dire economic crisis borrow from it. What guarantees it will repay the loan plus interest? The only guarantee is the country's commitment to implementing structural reforms that limit public spending and direct the loan toward clear objectives, which in El Salvador's case is closing the budget deficit. I'm not playing devil's advocate here because I'm aware of the danger these loans pose to national sovereignty, but we must approach the issue rationally and logically.

Don't go to the IMF if you can't afford its terms. That's easy.

Ironic that El Salvador is capable of finding the resources to spend on purchasing Bitcoin, which will serve as a reserve currency, but at the same time, it has a budget deficit for which it has found no solution other than going to the IMF to request a loan. This is absurd. If the economic crisis in El Salvador continues under these conditions and policies, we can expect to see El Salvador in the Paris Club or the London Club, where it will lose its sovereignty completely.

[suzanne5223]

IMF will stop pushing El Salvador when other countries also buy bitcoin and make it public. Then the community will be bigger and the IMF will not be fight against everyone.
[snip]

Even if other countries buy Bitcoin, the IMF will always be against El Salvador, and other countries that once requested funds from them because the IMF rules and regulations in terms of funding is not about helping the countries they give some funds but to enslave them with unfair restriction and force of power control (the do this mostly for Africa countries and that's why their leader is enslave).
This is modern slavery that most countries are experiencing from the IMF and the World Bank. I believe this is one of the reasons that pushed Satoshi into the creation of Bitcoin, and I like that the El Salvador president never takes them seriously, but I hope he's well prepared for the consequences.

Honestly, El Salvador’s “Bitcoin experiment” has been mostly a letdown so far.

Most citizens and businesses didn’t really adopt BTC — they had to roll back the law that made Bitcoin acceptance mandatory.

Miners never showed up for the geothermal dream, and there’s no investor gold rush happening either.

Meanwhile, in parts of Africa, people actually use Bitcoin day-to-day — not because of government policy, but because they need it. That’s real grassroots crypto adoption.

The El Salvador Bitcoin adoption level is not experiencing a major adoption among citizens, as expected, and it is normal for most people not to trust an asset created by someone whose identity is not known, and most of its activities are online.
If we also think about the techy aspect of Bitcoin, it may be a drawback to most people because they are used to spending time doing something that gives them fun, watching movies, etc. But learn new innovative tech is a no go area for most people after MSc, MA, etc.

Africa may be the grassroots of crypto adoption, but it currently lacks good tech, and has 10% business acceptance of crypto as payment

[Wetfinex]

On the other hand, it’s strange that the IMF demonizes BTC so aggressively, while other assets like gold don’t cause such a reaction. If a country wants to hold part of its reserves in BTC that’s also a form of diversification. Especially considering that many countries have lost trust in the dollar as the sole reserve asset.
Maybe it’s not just about economics, but also geopolitics? Because Bitcoin is something that isn’t controlled by traditional institutions, and that scares them.

Simply because that is not the goal of IMF. IMF’s purpose is to try to provide aid to countries that needs it the most and to help them with their economic growth where possible. Bitcoin, or any other form of investments, ie. precious metals are not meant to simulate economic growth in the long term.

If you require aids and loans, you have better priorities than to be stacking sats. Don’t act like the victim when you’re called out for it. Of course, there are no issues when developed countries like the US proposes it.

But here’s the question - if the IMF is truly focused on helping countries and stimulating their growth, then why is it so scared of a technology that can provide economic independence and a new level of financial freedom? Bitcoin isn’t just an investment - it’s a tool for those seeking an alternative to outdated systems.
And yes, aid is important, but can’t we also think about long-term sustainability? To me, this isn’t just about “stacking sats,” it’s a strategic choice. Time will tell.

[ultrloa]

On the other hand, it’s strange that the IMF demonizes BTC so aggressively, while other assets like gold don’t cause such a reaction. If a country wants to hold part of its reserves in BTC that’s also a form of diversification. Especially considering that many countries have lost trust in the dollar as the sole reserve asset.
Maybe it’s not just about economics, but also geopolitics? Because Bitcoin is something that isn’t controlled by traditional institutions, and that scares them.

Simply because that is not the goal of IMF. IMF’s purpose is to try to provide aid to countries that needs it the most and to help them with their economic growth where possible. Bitcoin, or any other form of investments, ie. precious metals are not meant to simulate economic growth in the long term.

If you require aids and loans, you have better priorities than to be stacking sats. Don’t act like the victim when you’re called out for it. Of course, there are no issues when developed countries like the US proposes it.

But here’s the question - if the IMF is truly focused on helping countries and stimulating their growth, then why is it so scared of a technology that can provide economic independence and a new level of financial freedom? Bitcoin isn’t just an investment - it’s a tool for those seeking an alternative to outdated systems.
And yes, aid is important, but can’t we also think about long-term sustainability? To me, this isn’t just about “stacking sats,” it’s a strategic choice. Time will tell.

Nope they are not afraid for countries to growth that somehow good for them especially that the country experiencing growth would have more higher chance to pay their loans to them.

I think IMF just want to be relevant and controlling to the nations so that they can always insert their agenda's and policy to manipulate the mind of the officials of certain countries. But now they see that they cannot control those officials trying to engage on Bitcoin and I guess more countries would provably follow them especially that they see El Salvador succeed more and gain profits from their investment also other things done on Bitcoin.

[ranochigo]

But here’s the question - if the IMF is truly focused on helping countries and stimulating their growth, then why is it so scared of a technology that can provide economic independence and a new level of financial freedom? Bitcoin isn’t just an investment - it’s a tool for those seeking an alternative to outdated systems.
And yes, aid is important, but can’t we also think about long-term sustainability? To me, this isn’t just about “stacking sats,” it’s a strategic choice. Time will tell.

Bitcoin doesn't provide economic independence or financial freedom. The variability of Bitcoin prices means that the economy is directly exposed to the huge fluctuation of Bitcoin prices, and that is a problem especially when the Bitcoin prices can potentially fluctuate 10-20% in a single given day. This exposes the monetary system to unnecessary risk. In addition, this also further exacerbate the issue of giving up monetary control and reducing the ability of the country to enact economic policies through their monetary system. This has both short and long term repercussions, and they aren't good for a country that small and reliant on foreign aid.

It's perfectly fair for IMF to be wanting their debtors to be pursuing known and safe areas of economic growth. This provides a more sound reason for them to continue lending to such countries and directly reduces their reliance on similar foreign aid in the future.

Here's a quick reality check: Poverty is rampant in El Salvador, Bitcoin hasn't helped much in their development of the GDP. In fact, even if they were to put all their funds in Bitcoin and Bitcoin were to become far more valuable, the effect would be one-off and it is obviously not sustainable. In comparison, the historical development of countries has shown far better results.

If you want to try a new, radical and unproven method to improve your country's economic standings, you should use your own money. The ground sentiments in El Salvador is that their life hasn't improved, and that they are not convinced that Bitcoin is the solution. Don't call out IMF if you want to continue to buy Bitcoins, they can lend to whoever they want. They can seek another willing lender if they would love to continue stacking sats.

[As-Soon-As]

IMF says “stop buying crypto” and El Salvador buys 8 more BTC.

A fresh $1.4B loan deal urges limits but Bukele’s Bitcoin Office isn’t backing down.

The legal loophole is that the office isn’t part of the fiscal sector so daily buys roll on,

IMF praises economic progress but can’t stop the sats stacking,

El Salvador now holds nearly 6,200 BTC worth over $674M.

The IMF, the lending institution, has repeatedly put El Salvador in such a situation while providing loans, preventing it from buying BTC. But the government of El Salvador, Nayib Bukele, knows exactly that it is possible to achieve the greatest success in accepting Bitcoin and holding Bitcoin for the long term and become economically self-sufficient.
Despite repeated IMF prohibitions, the country of El Salvador has not backed down from buying Bitcoin and is buying one Bitcoin every day. However, not only is El Salvador pressuring the country, but Pakistan is also repeatedly putting the country in a situation where it is being prevented from accepting Bitcoin.