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El Salvador ignores IMF protocol and repurchases 12 BTC! The total supply reaches 6,044 coins, with realized gains of 180 million MAD.
Despite reaching a loan protocol with the International Monetary Fund (IMF), El Salvador still ignores some restrictive policies and acquired a total of 12 BTC (Bitcoin) on 1/19 and 1/20 to continue expanding its Bitcoin reserves.
Continue buying BTC regardless of the protocol, with a total quantity of 6,044 coins
According to the National BTC Office of El Salvador, it purchased 11 BTC (Bitcoin) on 1/19 and added 1 BTC the next day on 1/20, spending over 1 million USD in total. Currently, El Salvador holds a total of approximately 6,044 BTC (Bitcoin) with a total value of around 610 million USD.
IMF protocol adjusts BTC acquisition policy
El Salvador reached a $1.4 billion loan protocol with the IMF in December last year, one of the conditions of which is to reduce part of the BTC (BTC) acquisition policy. Despite reaching a protocol with the IMF, El Salvador added nearly $1 million worth of BTC (BTC) the day after signing the protocol, and Stacy Herbert, the head of the national BTC office, also stated that El Salvador's BTC acquisition plan was not affected in any way.
The national BTC office director Stacy Herbert tweeted that the BTC acquisition plan is unaffected, and BTC as the country's reserve asset is effective.
El Salvador became the first country in the world to adopt Bitcoin as a legal coin in September 2021. Data shows that El Salvador's BTC reserves as of 1/20 have generated nearly $180 million in profit.
El Salvador relies on BTC to earn a profit of 1.8 billion US dollars
However, according to the survey in October 2024, 92% of the Salvadoran people did not use BTC for transactions, an increase from 88% in 2023.
The usage rate of BTC among the people of El Salvador is still relatively low
(Just reached an agreement with the IMF, El Salvador turned around and increased its acquisition of more Bitcoin)
Article El Salvador ignores IMF protocol to buy 12 more BTC! The total number has reached 6,044, and 180 million magnesium benefits have been realized First appeared in Chain News ABMedia.