Key dealers
- El Salvador bought 5 Bitcoin during a price fall to $ 83,000, which increased its total holding to 6,100 BTC.
- The purchase follows the IMF loan of $ 1.4 billion to El Salvador, which requires reduced the government’s involvement in Bitcoin.
El Salvador acquired 5 Bitcoin worth about $ 415,000 on Monday night, as the leading digital asset experienced a sharp decline to $ 83,000, according to Arkham Intelligence data.
Central American Nation’s Bitcoin holding a total of 6 100 Bitcoin, with a current value of approximately $ 510 million. El Salvador has maintained a strategy for buying a bitcoin daily since November 2022.
The purchase comes despite the International Monetary Fund’s latest loan of $ 1.4 billion approval February 27, which included conditions that demanded that El Salvador reduce state involvement in crypto activities, including the government’s Bitcoin purchase and transactions.
El Salvador has made adjustments to comply with the IMF requirements by making Bitcoin Acceptance voluntarily and reducing its commitment to Bitcoin-related initiatives.
The IMF event focuses on improving the public economy and governance while the risks are associated with El Salvador’s Bitcoin program.
Bitcoin acted to approximately $ 83,700 at press time and showed a decline of 8% over the past 24 hours, according to the Cooiestecko data.
In addition to Bitcoin, El Salvador’s president, Nayib Bukele, also focuses on artificial intelligence and technical progress.
President Bukle recently met the A16z co -founderBen Horowitz and Marc Andreessen, to discuss technology and AI investment opportunities.
The discussions were focused on establishing El Salvador as a regional technical hub, utilizing policy changes as a tax rate of 0% for technical industries and creating a supporting regulations for AI. They also considered how technical progress and regional investment could turn El Salvador into an important destination for technology innovators.
