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Why El Salvador Increases Daily Bitcoin Purchases?

El Salvador has ramped up its Bitcoin purchases despite warnings from the International Monetary Fund (IMF). Here are the key reasons behind this decision:

Strategic Bitcoin Reserve: El Salvador aims to build a substantial Bitcoin reserve as part of its financial strategy. The government believes that holding Bitcoin can provide economic stability and attract global investment.

Legal Tender Status: Bitcoin remains legal tender in El Salvador, and the government is committed to maintaining this status. This move was initially made to promote financial inclusion and reduce reliance on the US dollar.

Economic Innovation: By embracing Bitcoin, El Salvador hopes to drive economic innovation and position itself as a trailblazer in the digital asset space.

IMF Loan Agreement: Despite the IMF's recommendations to limit Bitcoin exposure, El Salvador continues its Bitcoin strategy. The recent $1.4 billion loan deal with the IMF includes conditions, but the government remains undeterred in its commitment to Bitcoin.

Does this help clarify the reasons behind El Salvador's increased Bitcoin purchases?