In a dramatic gesture that reinforces its stance on Bitcoin, El Salvador has bought 11 BTC for its national reserves, which now amount to 6,044 units.
The move follows an agreement with the International Monetary Fund (IMF) for $1.4 billion, whose conditions include a reduction in some of the policies concerning Bitcoin. Still, the Central American country has not relented on the cryptocurrency.
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The IMF loan deal comes with some strings. El Salvador agreed to make acceptance of Bitcoin voluntary on the part of the private sector–a step back from an earlier directive compelling businesses to accept the cryptocurrency.
The state also intends to dial back its presence in the Chivo wallet, a government-owned wallet designed for Bitcoin use. These
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