In a bold move that screams “Bitcoin rebels,” El Salvador just snapped up 6 Bitcoin in a single day, giving a cheeky nod to the International Monetary Fund (IMF) and its pleas to hit the brakes on their Bitcoin love affair. Yep, you heard that right—El Salvador has now pumped up its Bitcoin stash to a whopping 6,111 BTC!
This latest splurge happened on March 10, when the country decided to spice things up by purchasing 6 BTC instead of their usual 1 BTC daily dose. It's like they said, “Why not make it a Bitcoin bonanza day?” All of this while the IMF is busy trying to rain on their Bitcoin parade.
The National Bitcoin Office spilled the beans on March 10, sharing the juicy tidbit that along with their routine 1 BTC, they went ahead and grabbed an extra 5 BTC. This brings their treasure trove to a sparkling $493 million, give or take, depending on the market's mood swings.
Now, you might wonder why all the fuss? Well, Bitcoin's price has been doing a bit of a dance, hovering just above $80,000 at the week's start. But El Salvador isn't new to this. They've been known to go on shopping sprees, with past bulk buys of 12 BTC in January and 11 BTC in February. They're clearly not shy about adding more Bitcoin bling to their collection.
Back in December 2024, El Salvador inked a $1.4 billion deal with the IMF, agreeing to play nice by revoking Bitcoin's legal tender status and keeping the public sector's Bitcoin adventures on a leash. The IMF has been waving red flags, warning of financial storms brewing on the horizon. But El Salvador's latest shopping spree tells a different story—they're not backing down.
The IMF isn't giving up, though. On March 3, they tried again, filing a new request to put the brakes on El Salvador's Bitcoin joyride. They want restrictions on public sector Bitcoin buys and any debt tied to the crypto king.
But President Nayib Bukele isn't having any of it. He's sticking to his guns, brushing off the IMF's demands as nothing more than “whining.” In a statement that feels like a rallying cry, he declared that El Salvador's Bitcoin adventure isn't stopping now, not when they’ve faced global skepticism and not in the future either.
So there you have it, folks. El Salvador is on a Bitcoin rollercoaster, and they're not getting off anytime soon. Stay tuned for more twists and turns in this crypto saga!
