International Monetary Fund: Will continue to ensure El Salvador does not increase its Bitcoin holdings
7x24h News
International Monetary Fund: Will continue to ensure El Salvador does not increase its Bitcoin holdings
According to CoinDesk, the International Monetary Fund (IMF) said Tuesday it would continue efforts to ensure the amount of bitcoin held by the Salvadoran government remains unchanged. In March, El Salvador reached a $3.5 billion loan agreement with the IMF, which included conditions limiting bitcoin's status and accumulation. Under the agreement, bitcoin lost its legal tender status and merchants are no longer required to accept bitcoin payments. Nevertheless, El Salvador has continued to increase its bitcoin holdings. Since the announcement of the agreement terms on March 4, the country's bitcoin holdings have risen from 6,101.15 to 6,189.18, currently worth approximately $678 million. President Bukele of El Salvador stated he will not stop buying bitcoin. The IMF report noted that the country's program implementation has performed well, with key fiscal and reserve targets already achieved.
Navigating Web3 tides with focused insightsTechFlow news, May 28 — According to CoinDesk, the International Monetary Fund (IMF) said Tuesday it will continue efforts to ensure the amount of bitcoin held by the Salvadoran government remains unchanged. In March, El Salvador reached a $3.5 billion loan agreement with the IMF that included conditions restricting bitcoin's status and accumulation. Under the agreement, bitcoin lost its status as legal tender, and merchants are no longer required to accept bitcoin payments.
Nevertheless, El Salvador continues to increase its bitcoin holdings. Since the announcement of the agreement terms on March 4, the country's bitcoin holdings have risen from 6,101.15 to 6,189.18, currently worth approximately $678 million. Salvadoran President Bukele stated he will not stop buying bitcoin. The IMF report noted that the country's program implementation has performed well, with key fiscal and reserve targets already achieved.
