El Salvador will continue to buy Bitcoins (BTC), and may even accelerate the process, despite its recent agreement with the International Monetary Fund. Stacy Herbert, the director of the country’s Bitcoin Office.
Herbert has also stated that Bitcoin is legal tender, alongside the US dollar. The government will continue to build its strategic reserves. Central American country currently has 5,968 BTC worth $594m, positioning it as a hub of crypto-innovation.
She also highlighted the government’s continued commitment to integrating Bitcoin into its financial and educational systems, alongside efforts to attract global investment.
Recently, the Liquid Network has developed a tokenized US Treasury on its network. This was done in partnership with NexBridge. Herbert teased further announcements about capital markets initiatives related to Bitcoin.
Bitcoin education programs have also expanded. In January 2025 the government intends to introduce Bitcoin textbooks for grade 2 and 3 pupils, along with ongoing developer courses and high-school classes. “Mi Primer Bitcoin”Node Nation.
A certification program aimed to train 80,000 civil servants is also being implemented under the ESIAP.
El Salvador has also restructured its digital wallet eco-system. The state-sponsored Chivo Wallet will be sold or closed down, allowing the private Bitcoin wallet to grow.
El Salvador closes financing deal
These efforts are notable because they come shortly after El Salvador a Financing agreement of $1.4 billion El Salvador met with the International Monetary Fund on December 18, who had earlier urged El Salvador limit its exposure Bitcoin.
El Salvador is in dire need of financial support, and the $1.4billion loan agreement with IMF provides it. However, there are conditions attached. The government of Nayib Bukele agreed, among other things, to reduce some of the aspects of Bitcoin policy.
IMF spokesperson Julie Kozack told Reuters You can also find out more about us here. Tax payments will only be accepted by the government in US Dollars from this point on. New legal reforms make it voluntary for private companies to accept Bitcoin.
While the IMF deal introduces new constraints on the use of Bitcoin, Bukele’s administration appears determined to maintain its status as vanguard jurisdiction regarding crypto adoption.
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