Opposition condemns Bukele for continuing to buy bitcoin
Date: 2025-03-14 Author: Gabriel Deangelo Categories: IN WORLD
Opposition forces in El Salvador have expressed dissatisfaction with the decision of President Nayib Bukele to continue buying bitcoins despite the country's financial difficulties. Representatives of the Nationalist Republican Alliance (ARENA) said that the economic situation requires a balanced approach and strict adherence to fiscal policy. However, the head of state does not intend to abandon investments in cryptocurrency.
Critics recalled that El Salvador signed an agreement with the International Monetary Fund (IMF) for $ 1.4 billion, one of the key conditions of which was to stop further purchases and mining of BTC. However, Bukele violated this clause by ordering the resumption of the purchase of digital assets.
According to the Bitcoin Office of El Salvador, on February 25, the government increased its reserves by another 33 BTC, bringing the total amount of accumulated coins to 6,114 BTC, which is equivalent to $501 million.
The opposition believes that further investments in Bitcoin carry economic risks and require the president to comply with the agreements with the IMF. ARENA said that if Bukele has a hidden strategy, the public is not aware of it.
However, the chances of a change in course are minimal. Bukele's New Ideas Party controls 54 of the 60 seats in parliament, while ARENA has only two mandates. This means that the president will not only ignore the calls of his opponents, but will most likely not reveal his further plans regarding Bitcoin.
