🔹The IMF confirms that negotiations to sell El Salvador's Chivo Bitcoin wallet are progressing well. This is a key condition for the country to receive a $1.4 billion loan to avoid the risk of default.
🔸According to the agreement, El Salvador must limit government intervention in Bitcoin, stop mandating businesses to accept BTC, and increase transparency regarding reserves.
🔸The IMF reports that the government has stopped buying $BTC since the end of 2024, but President Bukele continues to announce new bottom-buying rounds.
🔸El Salvador is holding more than 7.509 BTC. Although it had to sell the Chivo wallet to private investors, President Bukele still asserts that the country's Bitcoin accumulation strategy will never cease
🔹El Salvador is caught between two harsh choices: comply with the rules of traditional finance to receive capital, or continue on the path of becoming a Bitcoin nation despite the risks of economic isolation
In your opinion, is the sale of the Chivo wallet a necessary setback or a sign that El Salvador is beginning to surrender to the pressure from the IMF?
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🔸This post is not investment advice. The market is always volatile, please consider carefully and invest responsibly