El Salvador's Christmas celebrations in 2024 featured a Bitcoin-themed Christmas tree, highlighting the country's dedication to BTC. Despite criticism from traditional financial institutions and economists regarding BTC's volatility, El Salvador continues to pursue its BTC strategy. The country became the first to accept BTC as legal tender in 2021. However, the recent $1.4 billion loan from the IMF imposed restrictions on El Salvador's cryptocurrency policy, including a ban on cryptocurrency transactions and the discontinuation of the state-backed Chivo wallet. Despite these restrictions, El Salvador remains committed to its BTC plan and will not sell any BTC from its reserves. The country currently holds 5,995 BTC, valued at around $569.5 million, and has seen steady long-term growth in its BTC reserves. El Salvador's unwavering support for cryptocurrencies demonstrates its desire for financial independence and reduced reliance on global financial institutions.



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