El Salvador has resumed its Bitcoin buying strategy after a brief pause, acquiring 7 Bitcoin valued at $661,000. This purchase is part of a new agreement with the International Monetary Fund (IMF), which mandated changes to the country’s Bitcoin policies. Historically, El Salvador had been buying one Bitcoin daily since November 2022, but this was ...
El Salvador made history in 2021 by becoming the first country to recognize Bitcoin as legal tender. Initially championed by President Nayib Bukele, this move aimed to reduce reliance on the US dollar and stimulate economic growth through cryptocurrency. However, recent changes indicate a shift toward caution. As of February 2025, businesses are no longer ...
El Salvador is planning to close or privatize its cryptocurrency wallet “Chivo,” created by President Nayib Bukele when the country made bitcoin legal tender in 2021. This decision follows a $1.4 billion loan agreement with the International Monetary Fund, which suggests that private businesses will choose whether to accept bitcoin. While Chivo may be discontinued, ...
El Salvador’s President Nayib Bukele celebrated as Bitcoin surged past $100,000 for the first time. His country’s investment in the cryptocurrency, made legal tender since 2021, now exceeds $600 million, though local adoption has been mixed. Bitcoin’s rise follows Donald Trump’s recent election win and his intention to nominate a cryptocurrency advocate for a key ...
