Yesterday, El Salvador, which had just reached a loan agreement with the International Monetary Fund (IMF), promised to make major adjustments to its Bit strategy. However, today it immediately spent $1.07 million to buy 11 more Bits. Is this a good opportunity to buy the dips?
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ToggleJust got the loan, immediately bought more Bits
The International Monetary Fund (IMF) has just reached an agreement with El Salvador on a $1.4 billion loan program, which will also facilitate additional fiscal support from the World Bank, the Inter-American Development Bank, and other regional development banks, with a total financing package of over $3.5 billion. However, El Salvador needs to make major adjustments to its Bit strategy, including one of the agreements that restricts public sector participation in Bit-related economic activities as well as Bit transactions and purchases.
(El Salvador compromises! Promises to adjust Bit strategy to get IMF loans)
However, according to Arkham data, in addition to the previous daily investment of 1 Bit, El Salvador has now bought an additional 11 Bits today, and the El Salvador National Bit Office has announced that it has transferred Bits worth over $1 million into El Salvador's strategic Bit reserve. Is this a good opportunity to buy the dips?
The Bit office director says: This is just the beginning
The director of the El Salvador National Bit Office, Stacy Herbert, also confirmed on X that after reaching a $3.5 billion financing agreement, El Salvador will continue to implement its Bit policy, including:
- Bit remains legal tender
- El Salvador will continue to buy Bits (possibly at a faster pace) as part of its strategic Bit reserve
- Bit capital markets will continue to be built; for example, the recent tokenization of US Treasuries through Liquid
- The Bit Office will continue to formulate Bit policies and roadmaps, attract investors, and establish educational programs
- The Chivo wallet will be sold or shut down, but many private sector Bit wallets will continue to serve El Salvador
And this is just the beginning, the El Salvador National Bit Office has a lot to do in 2025!
Risk Warning
Cryptocurrency investments are highly risky, and their prices may fluctuate dramatically, and you may lose your entire principal. Please carefully evaluate the risks.
