Stacy

Bitcoin

<p>Despite repeated warnings from the International Monetary Fund (IMF) to reduce its Bitcoin investments, El Salvador, the first country to make <a href="https://coinpedia.org/cryptocurrency-regulation/crypto-regulations-el-salvador/" target="_blank" rel="noreferrer noopener">Bitcoin legal tender</a>, remains undeterred. Recently, the nation’s Bitcoin Office announced a $1 million addition to its <a href="https://coinpedia.org/news/cynthia-lummis-pushes-for-strategic-bitcoin-reserve/" target="_blank" rel="noreferrer noopener">Strategic Bitcoin Reserve</a>. This bold strategy seems to be paying off, as El Salvador’s Bitcoin portfolio has surged by 133%, now valued at an impressive $632 million.</p>   
<p>What drives this relentless commitment to Bitcoin despite international pressure?</p>   
<h2 class="wp-block-heading" id="h-1-million-bitcoin-purchase"><strong>$1 Million Bitcoin Purchase</strong></h2>   
<p><a href="https://x.com/bitcoinofficesv/status/1869899405391999015" target="_blank" rel="noreferrer noopener nofollow">El Salvador’s Bitcoin Office </a>shared on social media that $1 million worth of Bitcoin was added to the country’s reserves. Reports confirm that a government-linked wallet purchased 11 Bitcoins, valued at approximately $1.07 million, further boosting the nation’s holdings.</p>   
<p>This acquisition aligns with President Nayib Bukele’s ongoing plan to purchase 1 Bitcoin daily. </p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/nayibbukele/status/1868461590888194086 
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<p>This consistent effort highlights El Salvador’s strong belief in Bitcoin as a key part of its financial strategy.</p>   
<h2 class="wp-block-heading" id="h-bitcoin-portfolio-hits-632-million"><strong>Bitcoin Portfolio Hits $632 Million</strong></h2>   
<p>President Bukele proudly announced that El Salvador’s Bitcoin holdings have reached $632 million, marking a 133% increase from their original value. Starting with 5,966 Bitcoins worth $270 million, the portfolio has grown significantly as Bitcoin’s price rose above $106,000 per coin.</p>   
<p>By steadily increasing its Bitcoin reserves, El Salvador is strengthening its presence in the global <a href="https://coinpedia.org/news/crypto-news-today-dec-20-2024-bitcoin-falls-to-96k-as-market-stumbles/" target="_blank" rel="noreferrer noopener">cryptocurrency market</a> and banking on greater returns in the future.</p>   [post_titles_links postid="395321"]   
<h2 class="wp-block-heading" id="h-understanding-imf-s-concerns">Understanding IMF's Concerns</h2>   
<p>El Salvador’s Bitcoin strategy has drawn both support and criticism. Recently, with Bitcoin’s price falling below $100,000, the IMF reiterated its warnings, urging the country to limit its cryptocurrency investments. However, El Salvador has remained firm in its approach.</p>   
<p>Stacy Herbert, director of El Salvador’s Bitcoin Office, responded to the IMF’s concerns on X (formerly Twitter), emphasizing that Bitcoin will remain legal tender in the country. She also confirmed the government’s commitment to adding more Bitcoin to its reserves. </p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/stacyherbert/status/1869752262186217868 
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<p>Additionally, El Salvador secured a <a href="https://coinpedia.org/crypto-live-news/el-salvador-secures-1-4b-imf-loan-amid-bitcoin-policy-shift/" target="_blank" rel="noreferrer noopener">$1.4 billion loan</a> from the IMF. As part of the agreement, the government pledged to modify some Bitcoin-related policies and confirmed that taxes would be paid exclusively in U.S. dollars, the country’s other official currency.</p>   
<p>Despite the IMF's warnings, El Salvador is still sticking to its Bitcoin plan, showing its belief in the long-term potential of cryptocurrency.</p>   [article_inside_subscriber_shortcode title="Never Miss a Beat in the Crypto World!" description="Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more." category_name="News" category_id="6"]   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1734689277813">
  <strong class="schema-faq-question"><strong>How much Bitcoin does El Salvador hold now?</strong></strong> 
  <p class="schema-faq-answer">El Salvador’s Bitcoin holdings have surged to $632 million, a 133% increase from its initial value of $270 million.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1734689285141">
  <strong class="schema-faq-question"><strong>How does El Salvador’s Bitcoin strategy impact its economy?</strong></strong> 
  <p class="schema-faq-answer">By increasing its Bitcoin reserves, El Salvador is enhancing its global cryptocurrency presence and banking on future returns</p> 
 </div> 
</div>

El Salvador Bitcoin Holdings Explode 133% Despite IMF’s Warnings

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