Despite the recent market crash, El Salvador continues to invest in Bitcoin! The country’s government made a purchase of 12 BTC in a single day, bringing its total reserves to 6,068 BTC, valued at over $554 million.
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The acquisitions came amid market volatility, with $BTC falling below $100,000. While many see the move as a risk, President Nayib Bukele is maintaining his long-term vision, consolidating the country’s “Strategic Bitcoin Reserve.”
Interestingly, these purchases come on the heels of a $1.4 billion deal with the IMF, in which El Salvador agreed to reduce its involvement in some activities with $BTC . Among the changes are the end of mandatory acceptance of Bitcoin by the private sector and the reduction of the government's participation in the Chivo wallet. Even so, the country continues to accumulate $BTC and has already stated that it intends to intensify purchases in 2025.
Is this a smart move for the country’s economic future or a high risk? What do you think of El Salvador’s strategy? Comment below! 👇
Fonte: Cointelegraph
Disclaimer: This content is not investment advice. Please do your own research and be fully informed before making any decisions.
