The International Monetary Fund (IMF) just struck a deal to pay El Salvador $120 million after reviewing its $1.4 billion loan from last year. But here’s the catch: El Salvador needs to cool it with government-run Bitcoin antics and shut down its Chivo wallet involvement by the end of July.

The IMF insists, “No more stacking government-owned Bitcoin wallets.” This payout is part of a 40-month loan deal from December, where El Salvador promised to tame its Bitcoin enthusiasm.

Back in March, the IMF said, “Stop buying Bitcoin, stop the Bitcoin side hustles.” But President Nayib Bukele isn’t exactly taking notes, his government continues to snag one BTC per day as part of its crypto stash strategy.

El Salvador’s Bitcoin Buying Spree Just Won’t Quit

Right after the IMF’s May 27 announcement, El Salvador’s Bitcoin Office proudly announced another Bitcoin buy on X. Over the past month, they’ve scooped up 30 BTC, pushing the nation’s Bitcoin reserve to a whopping 6,190.18 BTC.

Bukele recently bragged that the Bitcoin treasury is sitting on a sweet unrealized profit of $386 million, that’s a 132% gain on their investment.

IMF’s Rodrigo Valdes says El Salvador is technically playing by the rules, and blockchain expert Anndy Lian suggests the country might be sneaky, buying Bitcoin through private, non-government channels to stay compliant.

Looks like El Salvador’s Bitcoin party isn’t ending anytime soon, despite the IMF’s requests!

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