El Salvador has purchased over $100 million in Bitcoin amid a price dip, continuing its commitment to cryptocurrency despite warnings from the International Monetary Fund (IMF). President Nayib Bukele announced the acquisition on Twitter, reinforcing the country's pioneering stance as the first to adopt Bitcoin as legal tender in September 2021.
The IMF has raised concerns about potential financial instability and money laundering risks associated with El Salvador's Bitcoin strategy, delaying a $1 billion aid package. However, the Salvadoran government remains focused on the long-term economic and technological benefits of its digital currency initiatives.
El Salvador Buys $100M in Bitcoin Despite IMF Warnings
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