El Salvador strengthens support for Bitcoin: Violates International Monetary Fund agreement to purchase Bitcoin

The Salvadoran government has clearly stated that it will continue to promote Bitcoin as part of its economic strategy, despite the country's agreement with the International Monetary Fund to gradually phase out its Bitcoin business. Stacey Herbert, director of El Salvador's Bitcoin office, clarified that even after reaching an agreement, the country will continue to buy Bitcoin at an "accelerated" pace as part of its strategic bitcoin reserve strategy. Herbert also explained on social media that Bitcoin will remain legal tender and the government will continue to sponsor several education programs focused on cryptocurrency.