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COINTURK NEWS > Bitcoin News > IMF Influences Bitcoin Policies in El Salvador
Bitcoin News

IMF Influences Bitcoin Policies in El Salvador

In Brief

  • The IMF has pressured El Salvador regarding its Bitcoin strategy.

  • El Salvador plans to retain its Bitcoin holdings despite the IMF agreement.

  • Future U.S. statements may influence the cryptocurrency market positively.

Fatih Uçar
Fatih Uçar 5 months ago
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The Bitcoin price has fallen to $100,500, largely due to the IMF not fully achieving its goals. The IMF has been warning countries about Bitcoin and assessing whether its warnings are taken seriously, particularly concerning credit requests. As the United States begins to embrace cryptocurrencies, it raises the question of whether any countermeasures can be taken.

Contents
IMF and BitcoinEl Salvador’s Bitcoin Strategy

IMF and Bitcoin

The IMF has made statements against El Salvador, working hard to dissuade the country from its Bitcoin ambitions. Recently, it was noted that, as part of a credit agreement, El Salvador might have to make certain compromises regarding Bitcoin. While the country does not hold a massive BTC reserve, successfully steering El Salvador off its path would be alarming for other nations.

El Salvador’s Bitcoin Strategy

According to a recent announcement, the IMF has achieved partial success. The country’s official Bitcoin wallet, Chivo, may be sold or completely halted following the IMF credit agreement. Bitcoin (BTC) $105,305 will remain a legal payment method in the country, but there will be no obligations, effectively preventing further adoption.

Will El Salvador sell its BTC holdings? Officials have stated that there are no plans to sell BTC, and new purchases will continue. Despite the BTC price dipping to $100,360 following the news, Trump still appears committed to cryptocurrencies. Supportive statements from the U.S. in the coming weeks could provide additional backing.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 19 December, 2024 - 6:44 pm 19 December, 2024 - 6:44 pm
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