{"id":48586,"date":"2025-03-05T12:28:08","date_gmt":"2025-03-05T12:28:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/el-salvadors-president-says-the-country-wont-stop-buying-bitcoin\/"},"modified":"2025-03-05T12:28:08","modified_gmt":"2025-03-05T12:28:08","slug":"el-salvadors-president-says-the-country-wont-stop-buying-bitcoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/el-salvadors-president-says-the-country-wont-stop-buying-bitcoin\/","title":{"rendered":"El Salvador\u2019s president says the country \u201cwon&#8217;t stop\u201d buying Bitcoin"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1641224314465-7f270ab5-350d-47e9-8dd2-5861d842f403-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1641224314465-7f270ab5-350d-47e9-8dd2-5861d842f403-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1641224314465-7f270ab5-350d-47e9-8dd2-5861d842f403-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1641224314465-7f270ab5-350d-47e9-8dd2-5861d842f403-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li aria-level=\"1\">Nayib Bukele\u2019s comments come days after the International Monetary Fund\u2019s (IMF) new request as part of its $1.4 billion loan deal<\/li>\n<li aria-level=\"1\">The new request asks that there is \u201cno voluntary accumulation of Bitcoin by the public sector\u201d<\/li>\n<li aria-level=\"1\">It also asks that there is a \u201cceiling of 0\u201d on government Bitcoin purchases<\/li>\n<\/ul>\n<p>El Salvador\u2019s president has dismissed the International Monetary Fund\u2019s (IMF) new request, stating that the country \u201cwon\u2019t stop\u201d buying Bitcoin.<\/p>\n<p>In a post on <a href=\"https:\/\/x.com\/nayibbukele\/status\/1897019629702410551\" target=\"_blank\" rel=\"noopener\">X<\/a>, Nayib Bukele said:<\/p>\n<p>\u201c\u201cThis all stops in April.\u201d \u201cThis all stops in June.\u201d \u201cThis all stops in December.\u201d No, it\u2019s not stopping. If it didn\u2019t stop when the world ostracized us and most \u201cbitcoiners\u201d abandoned us, it won\u2019t stop now, and it won\u2019t stop in the future.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u201cThis all stops in April.\u201d \u201cThis all stops in June.\u201d \u201cThis all stops in December.\u201d<\/p>\n<p>No, it\u2019s not stopping.<\/p>\n<p>If it didn\u2019t stop when the world ostracized us and most \u201cbitcoiners\u201d abandoned us, it won\u2019t stop now, and it won\u2019t stop in the future.<\/p>\n<p>Proof of work &gt; proof of whining <a href=\"https:\/\/t.co\/9pC0PoY3YQ\">https:\/\/t.co\/9pC0PoY3YQ<\/a><\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1897019629702410551?ref_src=twsrc%5Etfw\">March 4, 2025<\/a><\/p>\n<\/blockquote>\n<p>His remarks come days after the IMF issued a new request to <a href=\"https:\/\/coinjournal.net\/search\/El+Salvador\">El Salvador<\/a> as part of its $1.4 billion loan deal with the IMF.<\/p>\n<p><a href=\"https:\/\/coinjournal.net\/search\/Michael+Saylor\">Michael Saylor<\/a>, Strategy\u2019s CEO, responded by <a href=\"https:\/\/x.com\/saylor\/status\/1897025642367213599\" target=\"_blank\" rel=\"noopener\">saying<\/a>: \u201cBitcoin adoption is unstoppable.\u201d<\/p>\n<p>El Salvador currently holds 6,101.18 Bitcoin at a value of over $527 million.<\/p>\n<h2>Additional requests<\/h2>\n<p>The new rules as set out in the IMF\u2019s <a href=\"https:\/\/www.imf.org\/en\/Publications\/CR\/Issues\/2025\/03\/03\/El-Salvador-Request-for-Extended-Arrangement-Under-the-Extended-Fund-Facility-Press-Release-562921\" target=\"_blank\" rel=\"noopener\">Country Reports 2025<\/a>, state that there will be \u201cno voluntary accumulation of Bitcoin by the public sector,\u201d adding:<\/p>\n<p>\u201cVoluntary accumulation of bitcoins includes purchase and mining of Bitcoins and excludes the accumulation of Bitcoins resulting from forfeiture, seizure, apprehension, custody or other form of property or possession by the government arising from law enforcement measures adopted in accordance with Salvadoran law.\u201d<\/p>\n<p>Additionally, there is a \u201cceiling of 0\u201d on government Bitcoin purchases.<\/p>\n<h2>Approved bill<\/h2>\n<p>The latest development follows the January <a href=\"https:\/\/coinjournal.net\/news\/el-salvador-approves-new-bill-to-comply-with-imf-deal\/\">approval by El Salvador of a bill to change its Bitcoin law<\/a> to comply with the IMF\u2019s loan deal.<\/p>\n<p>Under the plans, El Salvador changed a legal requirement that businesses accept Bitcoin as payment to make it optional instead. The government would also reduce the budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.<\/p>\n<p>El Salvador became the <a href=\"https:\/\/coinjournal.net\/news\/el-salvador-becomes-first-country-to-approve-bitcoin-as-legal-tender\/\">first country to accept Bitcoin as legal tender<\/a> in 2021. Then, it was reported that all businesses must accept Bitcoin. Consequently, the move attracted the attention of the IMF.<\/p>\n<p>Following El Salvador\u2019s adoption of Bitcoin in 2021, the IMF sent a <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2021\/11\/22\/mcs-el-salvador-staff-concluding-statement-of-the-2021-article-iv-mission\">statement<\/a> in November 2021 \u201crecommend[ing] narrowing the scope of the Bitcoin law\u201d while \u201cstrengthening the regulation and supervision of the new payment system.\u201d<\/p>\n<p>This was again called for in January 2022, when the IMF advised El Salvador to <a href=\"https:\/\/coinjournal.net\/news\/imf-wants-el-salvador-to-drop-bitcoin-as-legal-tender\/\">reconsider making Bitcoin the country\u2019s legal tender<\/a>. The IMF recently recommended that El Salvador <a href=\"https:\/\/coinjournal.net\/news\/imf-recommends-el-salvador-to-limit-the-publics-exposure-to-bitcoin\/\">limit the public\u2019s exposure to Bitcoin<\/a>.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/el-salvadors-president-says-the-country-wont-stop-buying-bitcoin\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Nayib Bukele\u2019s comments come days after the International Monetary Fund\u2019s (IMF) new request as part of its $1.4 billion loan deal The new request asks that there is \u201cno voluntary accumulation of Bitcoin by the public sector\u201d It also asks that [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":48587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48586"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48586"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48587"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}