CandleFocus El Salvador: World's First Country to Have a Bitcoin Reserve
2024-12-20
Author: Content Editor
El Salvador has become the first country in the world to create a Strategic Bitcoin Reserve, with over a million dollars' worth of Bitcoin being deposited. This announcement followed the purchase of 11 bitcoins worth $1.07 million by a wallet address linked to El Salvador. Despite concerns that the country's Bitcoin strategy might be scaled back after securing a $1.4 billion loan deal with the IMF, El Salvador has stated its intention to continue buying Bitcoin, possibly at an accelerated pace. The move has received praise from the crypto community but risks drawing criticism from the IMF. Other countries, including the United States, Poland, Brazil, and several European nations, are reportedly considering creating their own Bitcoin reserves.
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