Online reported that the International Monetary Fund (IMF) said on Tuesday that it "will 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 the agreement was to "prohibit the public sector from voluntarily accumulating bitcoins." According to the agreement, Bitcoin was cancelled from legal tender status and merchants were no longer forced to accept it. However, despite the agreement clearly restricting increased holdings, Bitcoin holdings increased from 6,101.15 to 6,189.18, worth approximately US$678 million. President Bukele once said: "It will not stop. If we didn't stop when the world rejected us and most 'bitcoin people' abandoned us, we won't stop now and in the future." Although El Salvador appears to have violated the terms of its loan agreement with the IMF over its increase in Bitcoin holdings, the IMF still believes in its report that the implementation of the entire loan program is "performing well."