Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
⭐ Merited by wavessurfing (1)
I have not seen any statement that El Salvador is actually pausing in its accumulation of 1 bitcoin per day or whatever might be some modest form of ongoing BTC accumulation. I will take with a grain of salt any proclamations of actually moving away from their goals, even though surely there are a lot of folks in El Salvador who likely do not have much of a discretionary income, so they might not be advantaged from investing into bitcoin, and using bitcoin as a payment system is not as compelling.
El Salvador and their President become less actively in their updates on Bitcoin purchases since late 2022. Their last updates were in December 2024, the last year but I agree with you that I did not read any tweet from El Salvador President on their pause of Bitcoin accumulation.El Salvador portfolio tracker.
https://nayibtracker.com/
This one is more actively updated and shows that El Salvador are continuing their Bitcoin DCA purchases.
https://intel.arkm.com/explorer/entity/el-salvador
The last news I heard from them was last February. It was when they took a step back from their decision about making bitcoin as a legal tender. They had to do it following the pressure from International Monetary Fund (IMF).
Upon searching, I found this that was released today.
Quote
El Salvador’s Bitcoin accumulation quietly persists under IMF watch.
While President Nayib Bukele’s government formally paused its Bitcoin acquisitions by public sector entities to satisfy International Monetary Fund (IMF) loan conditions, the country's Bitcoin Office continues to quietly expand the country’s national reserves.
Source: https://decrypt.co/316650/el-salvador-is-buying-bitcoin-despite-imf-compliance-howWhile President Nayib Bukele’s government formally paused its Bitcoin acquisitions by public sector entities to satisfy International Monetary Fund (IMF) loan conditions, the country's Bitcoin Office continues to quietly expand the country’s national reserves.
Seems like they've gone lowkey for now since they know IMF is watching them. This move might be the best for now to avoid drawing too much attention while still reinforcing Nayib's commitment to buy 1 bitcoin per day as part of his economic vision.