El Salvador Defies IMF! Reaffirms Support for Bitcoin, No Plans to Stop Buying!
TradingKey - El Salvador has ignored the International Monetary Fund's (IMF) ban and continues to increase its Bitcoin holdings.
On Wednesday, El Salvador's President Nayib Bukele reaffirmed his stance on Bitcoin, posting on X, "El Salvador has no intention of stopping the purchase of Bitcoin (BTC), no matter what the International Monetary Fund (IMF) demands."
Content posted by Nayib Bukele, Source: X.
Shortly after Bukele's post, the IMF disclosed details of a $3.5 billion loan agreement with the country, stating, "As part of the loan program, the public sector has been prohibited from voluntarily accumulating Bitcoin." In response, El Salvador added 1 Bitcoin to its holdings, seemingly defying the IMF's ban.
Over the past 24 hours, Bitcoin has rebounded by 1%, temporarily trading at $86,670. Currently, the Salvadoran government holds a total of 6,100 Bitcoins, valued at approximately $530 million.
Related Articles
[Reuters Analysis] China ramps up global yuan push, seizing on retreating dollar
SHANGHAI/SINGAPORE, April 29 (Reuters) - As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher U.S. tariffs, the People's Bank of China was seizing a moment of confusion and disruption in global trade to promote greater usage of the yuan.
Apple FY2025 Q2 Earnings Preview: Can It Thrive in a Trade War Storm?
TradingKey - As Apple ready to release its Q2 FY2025 earnings, the tech giant stands at a crossroads, navigating a landscape shaped by robust fundamentals, escalating trade tensions, and intensifying competition. With its iconic brand and formidable cash flow, Apple remains a cornerstone of the...
Amazon Q1 2025 Earnings Preview: Navigating Tariffs, E-commerce, and Cloud Growth
TradingKey - Amazon is gearing up to unveil its Q1 2025 earnings, and investors are buzzing with anticipation. The market generally expects the company's revenue to be between $151 billion and $155.5 billion, a YoY increase of about 5% to 9%. Operating profit is expected to be between $14 billion....png)
Microsoft (MSFT) Q3 2025 Earnings Preview: What Should Investors Expect?
TradingKey - Microsoft will report its 2025Q3 earnings on 30th of April, after the market closes. As one of the big tech companies and part of the Mag 7, Microsoft earnings are always seen as important news. These are the following aspects investors should pay attention to...
Bank of Japan Interest Rate Decision Preview: Pause on Rate Hikes Already Priced In, Minimal Market Movement Expected on the Day
On 19 March 2025, the Bank of Japan (BoJ) will announce its March interest rate decision. The market widely expects the central bank to maintain its policy rate unchanged at 0.5%. We align with this consensus forecast.