Loan at Risk as IMF Presses El Salvador on Bitcoin Buys
The post Loan at Risk as IMF Presses El Salvador on Bitcoin Buys appeared on BitcoinEthereumNews.com. While the IMF insists that the government should stop using its Chivo wallet and freeze further Bitcoin acquisitions, President Nayib Bukele’s administration continues to defy these conditions. In fact, El Salvador bought 30 more BTC in May alone. Analysts speculate El Salvador could still comply with IMF terms by routing purchases through third parties. Meanwhile, Japanese firm Metaplanet is escalating its own Bitcoin strategy by raising $50 million via zero-interest bonds backed by Evo Fund to increase its holdings beyond 7,800 BTC. However, critics argue that investors are overvaluing firms like Metaplanet and Strategy, and suggest that direct Bitcoin purchases offer better value. Adding to Bitcoin’s mainstream momentum, Jack Dorsey’s Block Inc. announced it will roll out Bitcoin payments via Square by 2026 using the Lightning Network, promising speed, lower fees, and greater merchant flexibility. El Salvador Under IMF Scrutiny The International Monetary Fund (IMF) announced on May 27 that it reached a staff-level agreement to disburse $120 million to El Salvador, contingent upon executive board approval. This payout follows an initial review of the $1.4 billion, 40-month loan agreement that was signed last year. However, the disbursement comes with certain conditions—particularly regarding El Salvador’s continued involvement with Bitcoin. The IMF explained that the government must cease operations related to the Chivo wallet by the end of July and must ensure that the amount of Bitcoin held across all government-owned wallets remains unchanged. Despite these terms, El Salvador appears to be maintaining its pro-Bitcoin stance. Just hours after the IMF announcement, the country’s Bitcoin Office posted on X that it had once again to its Bitcoin holdings. According to the official Bitcoin tracker, El Salvador acquired 30 BTC over the past 30 days, bringing its national Bitcoin reserve to 6,190.18 BTC. This persistent acquisition strategy is in line with President…
The post Loan at Risk as IMF Presses El Salvador on Bitcoin Buys appeared on BitcoinEthereumNews.com.
While the IMF insists that the government should stop using its Chivo wallet and freeze further Bitcoin acquisitions, President Nayib Bukele’s administration continues to defy these conditions. In fact, El Salvador bought 30 more BTC in May alone. Analysts speculate El Salvador could still comply with IMF terms by routing purchases through third parties. Meanwhile, Japanese firm Metaplanet is escalating its own Bitcoin strategy by raising $50 million via zero-interest bonds backed by Evo Fund to increase its holdings beyond 7,800 BTC. However, critics argue that investors are overvaluing firms like Metaplanet and Strategy, and suggest that direct Bitcoin purchases offer better value. Adding to Bitcoin’s mainstream momentum, Jack Dorsey’s Block Inc. announced it will roll out Bitcoin payments via Square by 2026 using the Lightning Network, promising speed, lower fees, and greater merchant flexibility. El Salvador Under IMF Scrutiny The International Monetary Fund (IMF) announced on May 27 that it reached a staff-level agreement to disburse $120 million to El Salvador, contingent upon executive board approval. This payout follows an initial review of the $1.4 billion, 40-month loan agreement that was signed last year. However, the disbursement comes with certain conditions—particularly regarding El Salvador’s continued involvement with Bitcoin. The IMF explained that the government must cease operations related to the Chivo wallet by the end of July and must ensure that the amount of Bitcoin held across all government-owned wallets remains unchanged. Despite these terms, El Salvador appears to be maintaining its pro-Bitcoin stance. Just hours after the IMF announcement, the country’s Bitcoin Office posted on X that it had once again to its Bitcoin holdings. According to the official Bitcoin tracker, El Salvador acquired 30 BTC over the past 30 days, bringing its national Bitcoin reserve to 6,190.18 BTC. This persistent acquisition strategy is in line with President…
What's Your Reaction?
