CandleFocus El Salvador buys 11 more Bitcoin, boosting reserves to 6,067 BTC
2025-02-04
Author: Content Editor
El Salvador has purchased an additional 11 Bitcoins to bolster its strategic Bitcoin reserve. The country has been actively acquiring Bitcoin, with over 20 Bitcoins purchased in the last seven days. This comes despite a deal with the International Monetary Fund (IMF) to remove Bitcoin as a legal tender. The move has received mixed reactions, with some praising El Salvador's BTC adoption strategy while others express concerns about market volatility and regulatory issues. The Spanish newspaper El Pais reported that the country has canceled BTC as a legal tender under pressure from the IMF, but merchants can still accept it voluntarily. The long-term success of El Salvador's Bitcoin project remains uncertain.
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