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El Salvador to Change Bitcoin Policy for $1.3 Billion IMF Loan
In exchange for a $1.3 billion IMF loan, El Salvador is apparently making Bitcoin adoption optional.
According to the Financial Times, the deal removes the legal necessity for companies to accept Bitcoin. This addresses IMF financial worries about the country's economy.
Financial Issues in El Salvador
El Salvador's Bitcoin policy change would be part of its IMF loan financing obligations. It wants to decrease expenditure and change taxes to lower its budget deficit by 3.5 percentage points of GDP over three years.
Two sources said an IMF delegation is in San Salvador to conclude the accord with President Nayib Bukele's government.
World Bank and Inter-American Development Bank funding of $1 billion each is envisaged from the arrangement.
The IMF has rejected El Salvador's legalization of Bitcoin, citing financial stability concerns. The country's 2021 Bitcoin payment legislation was a sticking point in IMF talks.
Nayib Bukele Promotes Bitcoin
Under the new agreement, companies are no longer compelled to accept Bitcoin. To boost economic stability, the government will increase its financial reserves from $11 billion to $15 billion.
El Salvador has Bitcoin reserves, which President Bukele buys amid price drops. According to Bukele's social media postings, these reserves rose 127% to nearly $600 million last month.
According to the survey, although El Salvador has encouraged Bitcoin adoption to reposition itself as a worldwide crypto center, most Salvadorans still use the US currency for everyday transactions.
#ElSalvador #MicroStrategyAcquiresBTC #BTC #AmazonBitcoinMove $BTC
In exchange for a $1.3 billion IMF loan, El Salvador is apparently making Bitcoin adoption optional.
According to the Financial Times, the deal removes the legal necessity for companies to accept Bitcoin. This addresses IMF financial worries about the country's economy.
Financial Issues in El Salvador
El Salvador's Bitcoin policy change would be part of its IMF loan financing obligations. It wants to decrease expenditure and change taxes to lower its budget deficit by 3.5 percentage points of GDP over three years.
Two sources said an IMF delegation is in San Salvador to conclude the accord with President Nayib Bukele's government.
World Bank and Inter-American Development Bank funding of $1 billion each is envisaged from the arrangement.
The IMF has rejected El Salvador's legalization of Bitcoin, citing financial stability concerns. The country's 2021 Bitcoin payment legislation was a sticking point in IMF talks.
Nayib Bukele Promotes Bitcoin
Under the new agreement, companies are no longer compelled to accept Bitcoin. To boost economic stability, the government will increase its financial reserves from $11 billion to $15 billion.
El Salvador has Bitcoin reserves, which President Bukele buys amid price drops. According to Bukele's social media postings, these reserves rose 127% to nearly $600 million last month.
According to the survey, although El Salvador has encouraged Bitcoin adoption to reposition itself as a worldwide crypto center, most Salvadorans still use the US currency for everyday transactions.
#ElSalvador #MicroStrategyAcquiresBTC #BTC #AmazonBitcoinMove $BTC
Jeannette Clavin nE8c:
ahora y que viene y compra BTC, sería una troleada hermosa.
JUST IN: #ElSalvador expects to finalize a $1.3bn IMF loan deal within two to three weeks by agreeing to make #Bitcoin acceptance voluntary instead of mandatory for businesses
#XRP #BTC
$BTC
#XRP #BTC
$BTC
🪙 El Salvador Celebrates as Bitcoin Hits $100K Milestone 🚀
Bitcoin ($BTC ) soared past the highly anticipated $100,000 mark this week, and El Salvador's President Nayib Bukele wasted no time sharing his country's impressive gains. 🌍💸
The Central American nation, which made BTC legal tender in 2021, now holds nearly 6,000 BTC. When Bitcoin hit an all-time high (ATH) of $103,679, El Salvador’s crypto portfolio skyrocketed to over $600M—an incredible 123% gain on its $269M investment. Although BTC has since retraced to around $98K, the country's holdings still boast a value of $556M. 📈🔥
President Bukele, known for his bold crypto moves, took to X (formerly Twitter) to share a jaw-dropping unrealized profit of $333.6M. 🤑 Even Elon Musk, tapped by U.S. President-elect Donald Trump to co-lead the new Department of Government Efficiency (D.O.G.E.), called it “legendary.”
Since 2022, El Salvador has been buying one BTC daily, with Bukele vowing to continue until BTC becomes “unaffordable with fiat.” While critics argue gains remain unrealized, Bukele blames opposition leaders for discouraging citizens from embracing Bitcoin’s potential. 💼💡
The crypto surge is further fueled by Trump’s pro-BTC policies, including appointing Paul Atkins as SEC Chair, replacing Gary Gensler. Bitcoin enthusiasts are calling this the "Trump Pump." 🚀
El Salvador's Bitcoin bet has sparked global interest, inspiring nations to rethink crypto adoption. 🌟
#Bitcoin100K #CryptoSuccess #ElSalvador #BTC #TrumpPump
Bitcoin ($BTC ) soared past the highly anticipated $100,000 mark this week, and El Salvador's President Nayib Bukele wasted no time sharing his country's impressive gains. 🌍💸
The Central American nation, which made BTC legal tender in 2021, now holds nearly 6,000 BTC. When Bitcoin hit an all-time high (ATH) of $103,679, El Salvador’s crypto portfolio skyrocketed to over $600M—an incredible 123% gain on its $269M investment. Although BTC has since retraced to around $98K, the country's holdings still boast a value of $556M. 📈🔥
President Bukele, known for his bold crypto moves, took to X (formerly Twitter) to share a jaw-dropping unrealized profit of $333.6M. 🤑 Even Elon Musk, tapped by U.S. President-elect Donald Trump to co-lead the new Department of Government Efficiency (D.O.G.E.), called it “legendary.”
Since 2022, El Salvador has been buying one BTC daily, with Bukele vowing to continue until BTC becomes “unaffordable with fiat.” While critics argue gains remain unrealized, Bukele blames opposition leaders for discouraging citizens from embracing Bitcoin’s potential. 💼💡
The crypto surge is further fueled by Trump’s pro-BTC policies, including appointing Paul Atkins as SEC Chair, replacing Gary Gensler. Bitcoin enthusiasts are calling this the "Trump Pump." 🚀
El Salvador's Bitcoin bet has sparked global interest, inspiring nations to rethink crypto adoption. 🌟
#Bitcoin100K #CryptoSuccess #ElSalvador #BTC #TrumpPump
According to Arkham, the US government holds crypto assets worth about $15.27 billion, including 212.847k BTC and 45.654k ETH.
British government holds 61.245k BTC, worth about $4.34 billion.
German government holds 49.859k BTC, worth about $3.53 billion.
Salvadoran government holds 5,718 thousand BTC worth approximately $405 million.
Most of the crypto assets of the other countries mentioned were confiscated, except for El Salvador.
#usa #Ethereum✅ $BTC $ETH
#ElSalvador
British government holds 61.245k BTC, worth about $4.34 billion.
German government holds 49.859k BTC, worth about $3.53 billion.
Salvadoran government holds 5,718 thousand BTC worth approximately $405 million.
Most of the crypto assets of the other countries mentioned were confiscated, except for El Salvador.
#usa #Ethereum✅ $BTC $ETH
#ElSalvador
🎉 Breaking news alert! 🚀 The Government of El Salvador has just made a groundbreaking move by introducing Bitcoin education into the curriculum of public schools! 🇸🇻💡 Starting next year, over 5,000 educational centers across the country's public network will embrace #Bitcoin education, ushering in a new era of financial literacy and technological innovation. 💰📚 This initiative aims to equip students with a fundamental understanding of $BTC , economics, and cutting-edge technologies, empowering them to navigate the digital landscape with confidence and knowledge. 🌟💻 Let's celebrate this monumental step towards financial inclusion and education! 🎉📈 #Bitcoin #Education #ElSalvador #Bukele 🚀📚
Follow | Like ❤️ | Quote 🔄 | Comment
Follow | Like ❤️ | Quote 🔄 | Comment
El Salvador President Nayib Bukele announced that the country has expanded its Bitcoin reserves to 5,700 coins, worth more than $400 million at the current price of over $70,000.
- El Salvador is actively integrating Bitcoin into its economy, growing its cryptocurrency holdings.
- Earlier this month, Bukele announced that the country's bitcoins had been put to cold storage.
- El Salvador also enacted legislation providing citizenship to Bitcoin investors who give to the government.
#ElSalvador #BTC🔥🔥🔥🔥 #HotTrends
- El Salvador is actively integrating Bitcoin into its economy, growing its cryptocurrency holdings.
- Earlier this month, Bukele announced that the country's bitcoins had been put to cold storage.
- El Salvador also enacted legislation providing citizenship to Bitcoin investors who give to the government.
#ElSalvador #BTC🔥🔥🔥🔥 #HotTrends
📜#ElSalvador started offering citizenship in exchange for investments in the country 👀
To take part in this initiative, you should either invest $1M in #Bitcoin or 1M #USDT. 💰
📊 A thousand individuals per year will have the opportunity to participate in this initiative.
To take part in this initiative, you should either invest $1M in #Bitcoin or 1M #USDT. 💰
📊 A thousand individuals per year will have the opportunity to participate in this initiative.
President Nayib Bukele Declares Success as El Salvador’s Bitcoin Venture Proves Profitable
In a surprising turn of events, President Nayib Bukele of El Salvador has announced that the country’s foray into Bitcoin has been a resounding success.
This revelation contradicts earlier reports that painted a less optimistic picture, primarily based on Bitcoin’s market valuation at the time.
Bukele, taking to social media, shared that with the current market price of Bitcoin, El Salvador not only stands to recover its entire initial investment but could also realize a significant profit of $3,620,277.13 USD if the cryptocurrency were to be sold at the present moment. The president emphasized the positive impact of this development on the country’s financial standing.
“With the current Bitcoin market price, if we were to sell our Bitcoin, we would not only recover 100% of our investment but also make a profit of $3,620,277.13 USD (as of this moment),” President Bukele affirmed.
It’s important to note that despite the newfound profitability, the government has no immediate plans to sell its Bitcoin holdings. Bukele clarified that this decision aligns with El Salvador’s long-term strategy, acknowledging the inherent volatility in Bitcoin’s value.
“Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, but this doesn’t affect our long-term strategy,” stated Bukele.
The president took a firm stance against earlier critics and doubters of El Salvador’s Bitcoin adoption, calling upon them to retract their statements. He urged responsible reporting, challenging journalists to approach the current reality with the same intensity they used when reporting the previous narrative of supposed losses.
President Bukele’s declaration aims to shift the narrative and emphasize the success of El Salvador’s unconventional move into the world of cryptocurrency.
#Bitcoin #ElSalvador #BTC/Update: #BinanceTournament #CryptoScoop
$BTC
In a surprising turn of events, President Nayib Bukele of El Salvador has announced that the country’s foray into Bitcoin has been a resounding success.
This revelation contradicts earlier reports that painted a less optimistic picture, primarily based on Bitcoin’s market valuation at the time.
Bukele, taking to social media, shared that with the current market price of Bitcoin, El Salvador not only stands to recover its entire initial investment but could also realize a significant profit of $3,620,277.13 USD if the cryptocurrency were to be sold at the present moment. The president emphasized the positive impact of this development on the country’s financial standing.
“With the current Bitcoin market price, if we were to sell our Bitcoin, we would not only recover 100% of our investment but also make a profit of $3,620,277.13 USD (as of this moment),” President Bukele affirmed.
It’s important to note that despite the newfound profitability, the government has no immediate plans to sell its Bitcoin holdings. Bukele clarified that this decision aligns with El Salvador’s long-term strategy, acknowledging the inherent volatility in Bitcoin’s value.
“Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, but this doesn’t affect our long-term strategy,” stated Bukele.
The president took a firm stance against earlier critics and doubters of El Salvador’s Bitcoin adoption, calling upon them to retract their statements. He urged responsible reporting, challenging journalists to approach the current reality with the same intensity they used when reporting the previous narrative of supposed losses.
President Bukele’s declaration aims to shift the narrative and emphasize the success of El Salvador’s unconventional move into the world of cryptocurrency.
#Bitcoin #ElSalvador #BTC/Update: #BinanceTournament #CryptoScoop
$BTC
🌐 El Salvador's National Bitcoin Office has announced that the El Salvador Free Visa Program, operated in collaboration with USDT issuer Tether, is expected to close within the year. The program offers citizenship to 1,000 individuals who pay a $999 non-refundable deposit to the El Salvador government and commit to investing $1 million in Bitcoin or USDT. The investment funds are intended to contribute to El Salvador's economic and social development. 🇸🇻💼 #ElSalvador #VisaProgram
International Monetary Fund (IMF) Says El Salvador's #Bitcoin Risks Have Not Materialized but 'should Be Addressed'
#ElSalvador #crypto2023 #dyor #hodl
#ElSalvador #crypto2023 #dyor #hodl
Taxi cab in El Salvador uses mempool to help educate passengers on bitcoin! 😱🔥
#Bitcoin #ElSalvador #crypto2023
#Bitcoin #ElSalvador #crypto2023
Kudos to #Binance for their commitment to providing top-notch customer support and creating job opportunities in #ElSalvador . Here's to more companies following their lead! 🙌
#Bitcoin reaches areas of #ElSalvador that were controlled by gangs
ONG Mi Primer Bitcoin's educational initiative is already operating in territories that were dominated by criminal groups.
#nftcommunity #BTC #buildtogether
ONG Mi Primer Bitcoin's educational initiative is already operating in territories that were dominated by criminal groups.
#nftcommunity #BTC #buildtogether
NEWS FLASH: A bill to eliminate all taxes on incomes, property and capital gains for tech innovation has been officially signed 🇸🇻#ElSalvador President Nayib Bukele.
El Salvador's Bitcoin President Achieves 91% Approval Rating: La Pensa Grafia
Based on survey done by La Prensa Grafica (LPG), #ElSalvador largest daily newspaper, President #NayibBukele obtained 91% approval from the local community.
Despite the fact that the media organization is known for its hostility to the Central American country's present political government, the leader has expressed uncertainty that the survey results may be much higher.
Bukele's Overwhelming Approval
El Salvador's President, who took office in June 2019, has one of the highest approval ratings in the world. In line with the previous surveys, around 85% of Salvadorans were satisfied with his leadership.
Based on the LPG study, less than 7% of the public disapproved of Bukele's governance, while 2.1% of survey participants did not respond.
Furthermore, the poll found that Bukele's popularity increased among young people who aspired to a higher economic level of living. Among of his most notable recent successes include managing the COVID-19 pandemic, improving the health sector, building the country's roadway infrastructure, and implementing educational reforms.
Apart from heavily investing in cryptocurrency, Bukele claims that #bitcoin has rebranded El Salvador's national image and aided tourism. The El Zonte beach location (also known as Bitcoin Beach) has attracted several Bitcoin maxis, including former Russia Today financial news hosts Max and Stacy Herbet, who are now consultants to President Bukele.
Despite the fact that the media organization is known for its hostility to the Central American country's present political government, the leader has expressed uncertainty that the survey results may be much higher.
Bukele's Overwhelming Approval
El Salvador's President, who took office in June 2019, has one of the highest approval ratings in the world. In line with the previous surveys, around 85% of Salvadorans were satisfied with his leadership.
Based on the LPG study, less than 7% of the public disapproved of Bukele's governance, while 2.1% of survey participants did not respond.
Furthermore, the poll found that Bukele's popularity increased among young people who aspired to a higher economic level of living. Among of his most notable recent successes include managing the COVID-19 pandemic, improving the health sector, building the country's roadway infrastructure, and implementing educational reforms.
Apart from heavily investing in cryptocurrency, Bukele claims that #bitcoin has rebranded El Salvador's national image and aided tourism. The El Zonte beach location (also known as Bitcoin Beach) has attracted several Bitcoin maxis, including former Russia Today financial news hosts Max and Stacy Herbet, who are now consultants to President Bukele.
NEWS FLASH: President Nayib Bukele "🇸🇻#ElSalvador gets tourism, investments, and rebranding from making #Bitcoin legal tender."
🔥Breaking news: El Salvador's President Nayib Bukele announces plans to propose a bill to eliminate tech taxes, further demonstrating the country's commitment to promoting innovation and economic growth. #ElSalvador #TechTax #Innovation
Nayib Bukele: "#ElSalvador gets tourism, investments, and rebranding from making #Bitcoin
legal tender."
legal tender."