Bukele Meets Michael Saylor
☕ What do you think about the future of Bitcoin in El Salvador? Will the meeting between President Nayib Bukele and Bitcoin "shark" Michael Saylor bring unexpected changes?
☕ Let's analyze together!

El Salvador is “stocking up” on Bitcoin: Just “closed a deal” for an additional 1 BTC, bringing the total to 6,077 BTC (approximately 590 million USD). Truly, there are "big players"!
❓ Bitcoin strategy "turnaround"? Since El Salvador "turned on the green light" for Bitcoin, the country’s cryptocurrency strategy has always been controversial. Recently, they even "adjusted the law" to "please" the International Monetary Fund (IMF).

El Salvador’s recent amendments to its Bitcoin Law have ignited a debate over the cryptocurrency’s legal status. The revisions redefine Bitcoin’s role, as it is now recognized as legal tender but is no longer designated as “currency.” This change makes Bitcoin’s use optional/voluntary rather than mandatory, a nuance that has significant implications for its everyday use.
What the Amendments Mean for Bitcoin
Samson Mow, CEO of JAN3, addressed the issue on X, summarizing:
“It’s complicated, but the short answer is: Bitcoin both is and isn’t legal tender.”
The revised law limits the government’s role to managing Bitcoin reserves and stops requiring its use for certain transactions. Specifically, changes in Article 4 mean that “You can’t pay taxes in BTC anymore. But, also stemming from Article 1 it seems like the government also can no longer accept BTC for payments such as incorporating a company, the passport program, future citizenship by investment programs, OR even the $12 tourist fee at the airport.” Additionally, Article 8 states, “The state doesn’t need to help facilitate BTC transactions—so paving the way for a Chivo phase-out or sale.”
Implications for Market and Global Standing
These legal tweaks are designed to align with International Monetary Fund (IMF) requirements, allowing El Salvador to meet external agreements while retaining a formal recognition of Bitcoin. However, critics argue that these changes may weaken the nation’s unique position in the crypto space. Globally, other regions such as Hong Kong, Dubai, Singapore, and Switzerland maintain more favorable regulatory environments for Bitcoin, often with tax exemptions and supportive policies.
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 #Bitcoin #CryptoRegulation #ElSalvador

The Czech National Bank (#CNB ) is considering integrating Bitcoin into national reserves – an idea put forward by Governor Ales Michl in an interview with the Financial Times. However, this project is facing considerable skepticism from European policymakers, with the ECB asserting that 'reserves must ensure liquidity, safety, and security.'
Following the initial proposal, the board of directors of CNB commissioned a study to assess the feasibility of Bitcoin becoming a reserve asset. According to sources from #Bloomberg , this research process could take several months. Furthermore, even if the research results support the purchase of Bitcoin, CNB's exposure to BTC will be reduced to below 1% of total reserves, much lower than the initially announced 'maximum of 5%.

El Salvador’s transformation from a nation that was skeptical of cryptocurrency to one that is the staunchest advocate for Bitcoin has been nothing short of extraordinary.
Paper profits exceed $167 million, and the Central American nation currently maintains 6,068 BTC in its treasury, which is almost $600 million in value.
$BTC
This remarkable turnaround has captivated the attention of both supporters and critics, particularly in light of the International Monetary Fund’s initial opposition to the nation’s courageous cryptocurrency experiment.
The IMF Stance On Crypto
The IMF has recently issued a warning to El Salvador regarding the potential economic consequences of adopting crypto as legal tender.
Recent reports and papers suggest that while financial stability risks from crypto-assets, including Bitcoin, are considered limited at present, there is an ongoing effort to develop comprehensive policies and regulatory frameworks to address potential future risks.
This latest perspective occurs as El Salvador continues to exhibit remarkable resilience in its cryptocurrency strategy, despite the fact that it was required to make some concessions in order to secure a $1.4 billion IMF loan
The director of the ONBTC, Stacy Herbert, stated in December 2024 that they will continue stacking in spite of the IMF’s reservations and policy changes, perhaps at “a faster pace” and at a “discount.”
Bitcoin: A Strategic Turning Point
Some observers may have perceived the recent policy adjustments mandated by the IMF as a setback. It was necessary for El Salvador to reduce certain aspects of its Bitcoin laws, such as the requirement for businesses to accept cryptocurrency payments and the discontinuation of crypto tax settlements.
It was also necessary for the government to withdraw from its involvement in the state-operated Chivo wallet. Nevertheless, El Salvador’s dedication to Bitcoin remains unwavering, despite these amendments.
Big Players Join The Fray
The increasing interest from major economic powers in establishing their own crypto reserves is perhaps the most intriguing development. According to reports, the United States, Brazil, and Germany are currently investigating the establishment of a Strategic Bitcoin Reserve, a development that would have been unimaginable only a few years ago.
This change in perspective from major economies could potentially make it more difficult for international financial institutions to discourage smaller nations from following suit and validate El Salvador’s early adoption.

Future Prospects And Global Implications
El Salvador continues to accumulate Bitcoin at a remarkable rate, despite the fact that it has scaled back some of its more ambitious Bitcoin initiatives in order to secure IMF funding. The National Bitcoin Office recently disclosed that the nation acquired 60 BTC last month, with 20 of those acquisitions occurring within a single week.
This aggressive purchasing strategy, in conjunction with reports that the country is acquiring discounted BTC price through US government auctions of seized cryptocurrency, indicates that El Salvador’s Bitcoin aspirations are far from over.
The compelling aspect of this narrative is its challenge to the prevailing belief that minor nations have the capacity to impact global financial trends. Despite initial skepticism and pressure from international institutions, El Salvador’s steadfastness in its crypto strategy may prove to be a turning point in the history of digital currency adoption.

#ElSalvador

El Salvador has accelerated $BTC acquisitions, buying 12 BTC in the last 24 hours, bringing its national reserve to 6,068 BTC (~$600M). 💰

This comes after a $3.5B financial support deal with the IMF, which limits certain crypto initiatives:

▪️ Bitcoin no longer mandatory for private sector payments
▪️ Taxes must be paid in USD
▪️ Government scaling back involvement in Chivo Wallet

Despite these restrictions, the BTC buying spree continues—from just 1 BTC per day before January to 60 BTC in the past month. 🚀

Latest purchases (Feb 4):

▪️ 11 BTC @ $101,816
▪️ 1 BTC @ $99,114
#ElSalvador

El Salvador has just continued to buy an additional 11 Bitcoin, bringing the total BTC in the national reserve to 6,067 BTC. The government is taking advantage of the market's downturn to increase its holdings, with a current total value of about $600 million.
📌 Staying loyal to Bitcoin despite having to compromise with the IMF
It is noteworthy that this move to buy more BTC comes just days after #ElSalvador agreed to reduce some Bitcoin supportive policies in exchange for a $1.4 billion loan package from the International Monetary Fund (IMF).