The IMF claims El Salvador stopped buying Bitcoin since February 2024, contradicting President Nayib Bukele’s previous statements about daily Bitcoin purchases.
* The Chivo wallet (government-run Bitcoin wallet) was reportedly only moving existing BTC, not acquiring new coins.
* This raises questions about transparencyand whether El Salvador is still committed to its “1 Bitcoin per day” accumulation strategy.
Will Bukele deny the IMF’s claims and provide transaction proofs? Or will he admit a shift in strategy?
* Market Reaction: If El Salvador resumes buying, it could be bullish (showing confidence). If not, skeptics may question other nation-state adopters.
* IMF Negotiations: El Salvador is seeking an IMF loan—will it compromise on Bitcoin policies to secure funding?
This situation highlights the challenges of Bitcoin as legal tender especially under IMF scrutiny. While El Salvador’s holdings are small, its symbolic role in crypto adoption makes this worth monitoring.
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