El Salvador Acquires $100 Million in Bitcoin Despite IMF Agreement

Despite a prior commitment made during an International Monetary Fund (IMF) loan agreement, El Salvador has purchased over $100 million in Bitcoin (BTC). This acquisition follows the nation’s record-breaking price surge, reaching a new all-time high of over $4,500. Data from El Salvador’s Bitcoin Office indicates that 1,090 BTC were acquired on Tuesday. The move contradicts an IMF report issued in July which indicated no further Bitcoin purchases following a $1.4 billion loan program approved in late 2024.   However, the country’s reserves have experienced significant growth since then, reaching over 7,474 BTC as of the latest acquisition announcement.