Quote from: Woodie on May 28, 2025, 01:03:42 PM

Quote from: Most 20 on May 28, 2025, 12:46:01 PM

El Salvador Defies IMF Again With Fresh Bitcoin Purchase Following Loan Review

The IMF urged a halt to crypto accumulation as part of $1.4 billion program. El Salvador responded by buying more.
El Salvador added eight more Bitcoin to its reserve despite IMF warnings
An IMF agreement struck on Tuesday included provisions to curb crypto holdings
It also wants El Salvador to wind down its involvement in a state-run crypto wallet
El Salvador purchased eight additional bitcoins on Tuesday despite the International Monetary Fund (IMF) reiterating its push for the country to freeze government crypto acquisitions under the terms of a $1.4 billion loan deal.

Imagine El Salvador taking that lot of $1.4 billion in crypto, and any small gives means $100s to a million dollars easy cash for them!!

You know what, El Salvador have tested profits(success ) from their crypto holdings and I don't think they will give up this new found love easily... whatever IMF is communicating is falling on deaf ears.

Btw, not to turn this into a Political debate but is there any country that has developed with IMF help ?

In the past, the IMF had prohibited El Salvador from collecting Bitcoin when it was lending money. But the government of El Salvador, Nayib Bukele, did not accept the conditions of the IMF, the lending institution, and according to the previous rules, he is still buying Bitcoin according to the daily DCA method.
This bold challenge has made him more aggressive in collecting Bitcoin, Nayib Bukele knows rightly and assumes that in order to be economically successful in the future, he must hold on to this Bitcoin and after holding it for a long time, success is definitely possible. Because they have accepted Bitcoin as legal tender since 2021, they are still holding on to their holdings and are buying 1 Bitcoin every day.