Just before Bitcoin’s $90,000 collapse \nAlone to buy $1.4 billion more\nEl Salvador to secure 7,474\nIMF and controversy over breach of promise

The status of Bitcoin holdings unveiled by El Salvador President Naive Bukele on the 19th. It said it bought 1098.19 more in a week, bringing its total to more than 7474 Bitcoin. [Source = X] 사진 확대

The status of Bitcoin holdings unveiled by El Salvador President Naive Bukele on the 19th. It said it bought 1098.19 more in a week, bringing its total to more than 7474 Bitcoin. [Source = X]

Amid the plunge in Bitcoin prices day after day, which is said to be the “2025 Great Bitcoin Crash of 2025,” El Salvador, which adopted Bitcoin as its legal currency, has launched an aggressive “low-point buying” alone.

El Salvador’s President Naive Bukele was found to have purchased more than $100 million (about 146 billion won) in additional bitcoin, virtually ignoring the bailout agreement with the International Monetary Fund (IMF).

El Salvador’s government last week incorporated about 1090 more Bitcoin (BTCs) into the state coffers, according to the secretariat of El Salvador’s Bitcoin.

On the 19th, President Bukele released a graph showing changes in his holdings over a week, leaving a short exclamation, “Hooah!” With this additional purchase, El Salvador’s total Bitcoin holdings exceeded 7,474, which is worth about $700 million (about 1.25 trillion won) at its current value.

President El Salvador and Bukele’s Bitcoin bets have been the subject of international concern since they abruptly adopted Bitcoin as a fiat currency with the dollar in 2021.

The biggest problem is the conflict with the International Monetary Fund (IMF). El Salvador signed a $40-month IMF loan program this year, with one of the terms of the agreement being a commitment not to increase Bitcoin’s overall holdings across all government-owned wallets.

Even after signing the IMF loan program, the Bukele government continued to purchase 1 bitcoin every day to increase its holdings, but the large-scale purchase this time violates the agreement with the IMF.

The IMF said in a statement that it would “evaluate in due course” whether El Salvador’s authorities comply with all program commitments, indirectly expressing its dissatisfaction.

Even after the adoption of Bitcoin legal currency in 2021, the majority of the people in El Salvador are still passive in using Bitcoin, and the utilization of Bitcoin is limited. The El Salvadoran government has pushed for the issuance of “Bitcoin Bonds,” but even this is not easy due to increased market uncertainty.