El Salvador

El Salvador Inks $1,400,000,000 Funding Deal With IMF but Agrees To Wind Down Involvement in Chivo Bitcoin Wallet

December 20, 2024 The Daily Hodl

Bitcoin

The International Monetary Fund (IMF) has agreed to issue a $1.4 billion loan facility to the government of El Salvador, but there are some strings attached related to the Central American country’s Bitcoin (BTC) and crypto adoption policies. The cash will support El Salvador’s reform agenda and is subject to approval from the IMF Executive […]

The post El Salvador Inks $1,400,000,000 Funding Deal With IMF but Agrees To Wind Down Involvement in Chivo Bitcoin Wallet appeared first on The Daily Hodl.

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

El Salvador buys 11 BTC only a day after reaching a deal with IMF

December 20, 2024 Coin Telegraph

Bitcoin

El Salvador purchased 11 Bitcoin a day after reaching a $1.4 million IMF loan deal that called for a reduction in public sector engagement in “Bitcoin-related economic activities.”

El Salvador bought $1 million worth of Bitcoin a day after striking a $1.4 billion deal with the International Monetary Fund that stipulated limits on dealing with the cryptocurrency.

The country’s National Bitcoin Office wrote in a Dec. 19 X post that it had “transferred over a million dollars worth of Bitcoin to our Strategic Bitcoin Reserve,” with its website showing it had added 11 Bitcoin (BTC) to its holdings.

The move broke its streak of adding “one Bitcoin per day” that President Nayib Bukele announced in November 2022 and brought the country’s holdings to 5,980.77 BTC, worth about $580 million with BTC trading at around $97,000.

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

Quid Pro Quo: El Salvador Scores $1.4 Billion IMF Credit by Scaling Back Bitcoin Activities

December 19, 2024 Bitcoin.com

bitcoin.com

The International Monetary Fund (IMF) reached an agreement with the government of El Salvador to provide a $1.4 billion credit facility to fund the country’s reform agenda. In exchange, El Salvador agreed to scale back bitcoin’s economic involvement to mitigate risks derived from its implementation. El Salvador to Receive $1.4 Billion Credit From the IMF, […]

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

December 19, 2024 Coin Telegraph

Bitcoin

El Salvador’s struck a loan deal with the IMF and will make Bitcoin acceptance voluntary and roll back government involvement in Bitcoin-related projects.

Update Dec. 19, 5:45 am UTC: This article has been updated to add a response from El Salvador’s National Bitcoin Office.

El Salvador is set to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little-used Chivo wallet and make public sector engagement of Bitcoin-related economic activity “confined” as part of a $1.4 billion loan deal with the International Monetary Fund.

The Central American nation will get $1.4 billion from the IMF over the next 40 months after El Salvador agreed to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

Latam Insights Encore: El Salvador’s $3 Trillion Gold Stash Will Be Catalyst for a Bitcoin-Centric Future

December 18, 2024 Bitcoin.com

Bitcoin

Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. This edition examines how El Salvador might leverage its newfound gold reserves to increase its bitcoin stash, becoming richer in just one trade. Latam Insights Encore: El Salvador Might Follow Michael Saylor’s Playbook, Using Gold […]

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

Bitget Receives Bitcoin License in El Salvador, Securing Its Entrance Into Latam

December 17, 2024 Bitcoin.com

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Bitget, a South Africa-based cryptocurrency exchange, has recently announced that it received a Bitcoin Service Provider (BSP) license in El Salvador, opening the doors to start operating locally. This milestone allows the company to “offer services such as bitcoin-to-fiat currency exchanges, bitcoin payment facilitation, and secure bitcoin custody solutions for its clientele,” according to a […]

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

Latam Insights: El Salvador’s Gold-to-Bitcoin Power Trade, Argentina Opens to Foreign Crypto ETFs

December 16, 2024 Bitcoin.com

bitcoin.com

Welcome to Latam Insights, a compendium of the most relevant crypto and economic news from Latin America over the past week. In this issue, El Salvador could make a gold-to-bitcoin power trade, Argentina opens up to foreign crypto ETF opportunities, and Brazil might scale back its stablecoin self-custody ban provision. El Salvador Discovers $3 Trillion […]

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

Argentina Partners With El Salvador on Digital Asset Regulation Issues

December 12, 2024 Bitcoin.com

Argentina

The CNV, the current VASP regulatory institution in Argentina, has signed a collaboration agreement with the Digital Asset National Commission (CNAD) of El Salvador to exchange information, supervise, and regulate cryptocurrency exchange operations. Argentina to Lean on El Salvador’s Experience in the Digital Asset Regulation Field President Javier Milei’s administration seems adamant about establishing clear […]

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

El Salvador Discovers $3 Trillion Gold — Will It All Go Into Bitcoin?

December 11, 2024 Bitcoin.com

Bitcoin

El Salvador’s potential $3 trillion gold discovery has sparked debates over mining bans, sustainability, and the possibility of increased bitcoin investments, potentially reshaping the nation’s future. El Salvador’s $3T Gold Discovery Sparks Calls to Monetize Gold for Bitcoin Salvadoran President Nayib Bukele has highlighted the potential of El Salvador’s untapped gold reserves, estimating their value […]

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

El Salvador’s Bitcoin gains top $300M — President

December 8, 2024 Coin Telegraph

Bitcoin

El Salvador’s unrealized gains of more than $300 million on its Bitcoin purchases came as BTC broke through the $100,000 milestone price.

Salvadoran President Nayib Bukele highlighted the country’s unrealized gains from its Bitcoin investments on social media after the cryptocurrency surpassed $100,000 for the first time.

On Dec. 5, Bitcoin (BTC) reached $100,000 for the first time, sparking celebrations within the crypto community. That same day, Autism Capital, a crypto-focused account on X, asked Bukele to share El Salvador’s Bitcoin portfolio to “dunk on the haters.” Bukele responded by posting the country’s BTC holdings on X.

Source: Nayib Bukele

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BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow