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International Business Times
International Business Times
Business
Marvie Basilan

El Salvador Continues Bitcoin Stacking As $BTC Struggles Below $85,000

Bitcoin El Salvador International Monetary Fund Nayib Bukele Donald Trump United States
El Salvador has painted itself under Nayib Bukele as the "Bitcoin country." (Credit: AFP)

KEY POINTS

  • El Salvador's Bitcoin office revealed it purchases another $BTC Sunday, bringing its total stash to 6,118.18 $BTC
  • Under the deal, El Salvador is supposed to not make any Bitcoin purchases throughout the IMF program's duration
  • A $BTC expert argued that the Bukele administration was 'contracting' itself in its stance regarding the IMF package

El Salvador continued its Bitcoin purchases as the world's most valuable cryptocurrency lingers below $85,000 amid a broader crypto market downturn and despite concerns around a funding package from the International Monetary Fund (IMF) that sets limits on the Salvadoran government's BTC activities.

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