Nayib Bukele, president of El Salvador, challenges the International Monetary Fund (IMF) and continues with its Bitcoin daily purchasing strategy (BTC).
According to the data available at the Bitcoin Office explorer, the Central American country bought 13 BTC from March 1 to date.
The recent purchases are given after El Salvador accepted The restrictions that limit their ability to increase their BTC reservesto close a loan of 1.4 billion dollars with the IMF.
Despite Bukele’s position, much of the Bitcoiner community questions the course that the country is taking with respect to BTC after accepting several of the demands imposed by the fund.
As Cryptonotics reported, on March 4 documents that reveal come to light New restrictions on the use of bitcoin in El Salvador. Among the measures, the IMF imposed stricter conditions, demanding the Government to stop participating in activities related to BTC and reinforces regulation in the country.
The creation of public entities to operate with BTC was also prohibited, except for exceptions with prior approval.
Another measures establishes that the State must leave the Wallet goat before July 2025, liquidate the fidebitcoin trust and present audited financial statements. Besides, You must inform the IMF about your BTC holdings and submit to periodic reviews during the year.
The agreement with the IMF also affects Bitcoin mining in El Salvador. According to the 111 pages document, state companies, such as the Lempa River Hydroelectric Executive Commission (CEL), must abandon their participation in this activity, which impacts the model promoted by Bukele. This is because, through mining, the country has been accumulating BTC.
Before this panorama, many bitcoiners who moved to El Salvador after the approval of the Bitcoin Law in 2021 Now they doubt if they will continue to live there.
Andreas Kohl, a sequentia developer Network, declared that, after three years living in El Salvador, he decided to leave the country. He expressed his “disagreement with the direction that we perceive that the government is taking, and specifically, how it affects the opportunities that I initially believed that (and other bitcoiners) we would have there.” In that line, he added:
“Bitcoin’s law and the acceptance of BTC by the Government was what made El Salvador a different playing field, a place where BTC projects could have an unfair life. For my part, I think that global hyperbitcoinization is inevitable, but it will not happen at the same pace everywhere: governments can delay it and will do so in many countries, if not in others. ”
Andreas Kohl, Secuntia Network developer.
In addition, he stressed that in El Salvador, community projects such as Bitcoin Beach, Bitcoin Berlin and Isla La Pirraya demonstrate The practical use of BTC without the need for a law that supports it as legal tender currency.
For his part, John Dennehy, creator of my first Bitcoin, referred to El Salvador’s agreement with the IMF and said: “As someone who left everything to move to El Salvador in 2021 and build in the ‘Bitcoin country’, I am deeply disappointed by the recent events here. But a better future will not come based on government policies, it will come because we create it. It supports the education and adoption of BTC from the bases. This is how we will win. ”
He also regretted the departure of Kohl, whom he defined as “a true builder and thinker” of the industry.
Josue Lopez, CEO of the Bitcoin Volcano Energy mining firm, said about the doubts that invade the Bitcoiners of El Salvador and pointed out: “If your motivation to move to El Salvador is so fragile that a role can change it, then do it. The big changes in history do not occur overnight, they are certainly never just a battle downhill and are full of challenges along the way. The builders build, it is simply what we do, even when things get difficult. ”
The members of the NGO Murphlife differentiated themselves from some bitcoiners and confirmed that they will continue in El Salvador. “The country is still safe and that is why we stay. It doesn’t matter where you go in life, you will always find something that bothers you. We look for a Bitcoin paradise, but we forget that paradise is not within the borders. You cannot access him with any passport. The sky is inside, ”they argued.
Although there are opinions found, the truth is that optimism no longer reigns between the Bitcoiner community of El Salvador and there is confusion regarding the direction of the country after the agreement with the IMF.