IMF: "will continue to work" to ensure El Salvador does not increase its Bitcoin holdings.

The International Monetary Fund (IMF) said on Tuesday that it would "continue to work" to ensure that the total amount of bitcoin held by the Salvadoran government remains unchanged. In March, El Salvador reached a $3.5 billion loan agreement with the IMF, one of the conditions of which was to "prohibit the voluntary accumulation of bitcoin by the public sector", while bitcoin was removed from legal tender status and merchants were no longer forced to accept it. However, El Salvador's bitcoin holdings increased from 6,101.15 to 6,189.18, worth about $678 million. President Bukele said: "It will not stop. If we didn't stop when the world rejected us and the majority of 'Bitcoin people' abandoned us, we don't and will not stop. "While El Salvador's increase in bitcoin appears to be in violation of the lending agreement, the IMF report still considers the overall execution of the lending program to be "good" and that key fiscal and reserve targets have been met.