El Salvador continues to demonstrate its strong Bitcoin resolve even after the International Monetary Fund warned against their digital asset spending. On March 9 the Bitcoin Office of the country declared its new acquisition of six Bitcoins valued at about $500000.

The official statement reveals President Nayib Bukele strengthened Bitcoin reserves by buying five more BTC and maintaining his daily one BTC purchases. Since last week El Salvador has bought a total of 18 Bitcoins worth $1.4 million.

The official Bitcoin transaction data show that the nation bought 19 BTC during March as its total holdings reached 6,111 BTC and that brings their value to over $504 million.

IMF”s Strict Conditions on Bitcoin Holdings

El Salvador bought more Bitcoin today despite the cryptocurrency market sliding 12% to reach $80,000. The Bitcoin Office director Stacy Herbert said that El Salvador uses market dips to increase its Bitcoin holdings.

The government made the same buying strategy many times before Bitcoin”s major last drop which proves their faith in this investment”s future returns. Despite this choice the relationship between El Salvador and the International Monetary Fund remains tense.

The government continues buying Bitcoin despite conditions placed on their acceptance of $1.4 billion from the IMF. The IMF published its final terms for negotiating with El Salvador after 48-months of discussions.

Under the agreement El Salvador had to restrict public sector Bitcoin operations and monitor digital asset transactions while ending voluntary Bitcoin purchases including those from mining operations. The agreement lets El Salvador keep Bitcoin only when it seizes assets from legal actions or when authorities legally take it away.

Even though El Salvador gave ground before to resolve international concerns it now shows further commitment to making Bitcoin part of its financial plans. President Bukele confirms that El Salvador will keep buying Bitcoin despite worries from outside forces.

People worldwide watch El Salvador as it builds its Bitcoin financial strategy. People worldwide question if El Salvador”s Bitcoin usage will create financial progress or worsen its relationship with financial institutions including IMF.