El Salvador and its President Nayib Bukele is stirring the pot, playing against the IMF Bitcoin ban. After securing a $1.4 billion loan, the IMF thought they’d can stop Bukele’s crypto stance, demanding a halt to Bitcoin purchases.
Nope! Bukele’s doubling down, he keeps adding to El Salvador’s stash like a king, a truly state-backed Michael Saylor.
The drama is unfolding with the global finance world dropping their jaws, looking over this tiny nation’s bold move.
The IMF admits that a key reason why it’s withholding funds from El Salvador is that it doesn’t like Bitcoin and the fact that the government has added it to its national treasury. pic.twitter.com/TrEiun61Al
— Sam Callahan (@samcallah) October 4, 2024
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The Drama Unfolds
This saga has been a rollercoaster. In 2021, El Salvador made Bitcoin legal tender, a world first. The IMF, unimpressed, suspended the loan cash and put on strict crypto curbs. By March 2025, Bukele insisted: no more Bitcoin buys, El Salvador ditches the Chivo wallet, and Bitcoin is only optional for merchants.
Bukele, being Bukele, tweaked the laws to comply, just enough to legalize his dreams. As for now, He’s still snagging one Bitcoin daily, winking at the IMF’s rules.
Bukele’s defiance is a spectacle. According to his admission, he now has 6,111 Bitcoins, worth over $500 million, and counting. The IMF is whining, saying it will risk economic stability, but Bukele is staying moisturized and hydrated.
“Not stopping,” he declared, as if daring the IMF to cut the loan.
Following this, Bukele’s fans are cheering, seeing it as a middle finger to global finance. On the other hand, critics worry he’s gambling with the nation’s future.
BREAKING: 🇸🇻
The IMF demands El Salvador to stop buying #bitcoin as a condition of further funding.
Imagine needing permission to buy an asset for your own country.
WILD pic.twitter.com/jkU8BOQ9fb
— Brian Rose, Founder & Host of London Real (@LondonRealTV) March 4, 2025
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Bukele, El Salvador, Bitcoin, and Their Best Scenario
If Bitcoin hits $250,000, El Salvador’s stash will balloon to $1.5 billion, a massive win for Bukele’s vision. At $1 million per coin, we’re talking $6 billion, enough to make the IMF sweat and maybe rethink their stance.
Bukele’s betting on crypto’s rise to boost the economy, attract technological investments in El Salvador, and cement his legacy. Memes of Bukele is everywhere now, with people calling him the a crypto king, swording IMF from the back.
🇸🇻President Bukele says, "You only pay high taxes to uphold the illusion you are funding the government… while the government prints money out of thin air."
Bitcoin's supply can't be inflated ✊ pic.twitter.com/tqOgNAwJ8p
— CryptosRus (@CryptosR_Us) March 1, 2025
The IMF is in a bind. Compliance reviews are looming, and Bukele’s Bitcoin buys aren’t stopping anytime soon. Yet, they’re playing nice, saying El Salvador meets “performance criteria.” It’s a tense dance. Bukele is pushing boundaries, and the IMF is trying not to look weak.
For now, El Salvador’s Bitcoin dream keeps the world watching. Bukele, just like Michael Saylor, could be a genius or just plain stubborn. Either way, it’s one hell of a show that will be revealed with time.
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Key Takeaways
- What Bukele and El Salvador do to keep their Bitcoin dream alive.
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