El Salvador’s Bitcoin Profits and Strategy Lawsuit
The post El Salvador’s Bitcoin Profits and Strategy Lawsuit appeared on BitcoinEthereumNews.com. Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee as we examine what the Bitcoin price action means for El Salvador, a country whose administration has earned international praise for its crypto adoption. Nevertheless, the country also faces opposition from the IMF, which has asked it to revise its Bitcoin policies. Crypto News of the Day: El Salvador’s Bitcoin Holdings Record $357 Million in Gains, Nayib Bukele Reveals El Salvador’s president, Nayib Bukele, revealed the country’s unrealized profits, which reached $357.2 million when the Bitcoin price hit an intra-day high of $107,108. Notably, Bitcoin has since retracted from the intraday high and was trading for $102,962 as of this writing. El Salvador started accumulating Bitcoin in 2021 before adopting BTC as a legal tender. A recent US Crypto News publication indicated that BTC pioneer Max Keiser was pivotal in El Salvador’s adoption of Bitcoin. BeInCrypto reported the country’s most recent purchase. On April 26, the country’s National Bitcoin Office reported that El Salvador had purchased 8 BTC during that week and 31 BTC over the past month. Meanwhile, the IMF remains a challenge amid El Salvador’s accumulation spree, calling for reforms to the nation’s Bitcoin Law. This comes amid the IMF’s loan agreement with El Salvador. In December 2023, the Salvadoran government committed to reducing Bitcoin’s mandatory use and its involvement in Bitcoin-related infrastructure. In an April 26 press briefing, Rodrigo Valdes, Director of the IMF’s Western Hemisphere Department, stated that El Salvador is complying with the agreed non-BTC accumulation policy. “In terms of El Salvador, let me say that I can confirm that they continue to comply with their commitment of non-accumulation of bitcoin by the overall fiscal sector, which is the performance criteria that we have,”…
The post El Salvador’s Bitcoin Profits and Strategy Lawsuit appeared on BitcoinEthereumNews.com.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee as we examine what the Bitcoin price action means for El Salvador, a country whose administration has earned international praise for its crypto adoption. Nevertheless, the country also faces opposition from the IMF, which has asked it to revise its Bitcoin policies. Crypto News of the Day: El Salvador’s Bitcoin Holdings Record $357 Million in Gains, Nayib Bukele Reveals El Salvador’s president, Nayib Bukele, revealed the country’s unrealized profits, which reached $357.2 million when the Bitcoin price hit an intra-day high of $107,108. Notably, Bitcoin has since retracted from the intraday high and was trading for $102,962 as of this writing. El Salvador started accumulating Bitcoin in 2021 before adopting BTC as a legal tender. A recent US Crypto News publication indicated that BTC pioneer Max Keiser was pivotal in El Salvador’s adoption of Bitcoin. BeInCrypto reported the country’s most recent purchase. On April 26, the country’s National Bitcoin Office reported that El Salvador had purchased 8 BTC during that week and 31 BTC over the past month. Meanwhile, the IMF remains a challenge amid El Salvador’s accumulation spree, calling for reforms to the nation’s Bitcoin Law. This comes amid the IMF’s loan agreement with El Salvador. In December 2023, the Salvadoran government committed to reducing Bitcoin’s mandatory use and its involvement in Bitcoin-related infrastructure. In an April 26 press briefing, Rodrigo Valdes, Director of the IMF’s Western Hemisphere Department, stated that El Salvador is complying with the agreed non-BTC accumulation policy. “In terms of El Salvador, let me say that I can confirm that they continue to comply with their commitment of non-accumulation of bitcoin by the overall fiscal sector, which is the performance criteria that we have,”…
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