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El Salvador’s Bitcoin Reserve Fails to Help the Average Citizen
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6 Articles
El Salvador's Bitcoin Gamble Fails Its Citizens, Says NGO Leader
In a recent move by El Salvador, the nation has decided to capitalize on its Bitcoin reserves to support its population economically. This pioneering endeavor underscores El Salvador’s commitment to integrating cryptocurrency into its economic framework, highlighting a significant turn towards digital financial solutions. The country is set to use profits accrued from its Bitcoin investment to fund social development projects. El Salvador’s Bitc…
El Salvador’s Bitcoin reserve fails to help the average citizen — NGO exec
Source: Coin Tegraph El Salvador’s Bitcoin (BTC) reserve has had limited impact on the broader population, and the country’s loan agreement with the International Monetary Fund (IMF) may further complicate its Bitcoin strategy, according to Quentin Ehrenmann, general manager at My First Bitcoin, a non-governmental organization (NGO) focused on Bitcoin adoption. Ehrenmann told Reuters that repealing the Bitcoin legal tender laws under the IMF agr…
Cointelegraph
Cryptocurrency News | Cryptocurrency Prices | Market CapEl Salvador’s Bitcoin reserve fails to help the average citizen
El Salvador's Bitcoin reserve only helps the government and not normal residents of the Central American country, according to one BTC advocate.
La Prensa Gráfica The International Monetary Fund (IMF) presented on July 15 the full evaluation of the first revision of the Expanded Service Agreement (SAF) and assured that El Salvador has complied with the program. And at the point of mitigating the risks of bitcoin and not increasing tenures, it also took it for granted. But why does El Salvador not continue to accumulate bitcoin if it publishes purchases every day? According to the State O…
IMF Confirms El Salvador Is Not Buying More Bitcoin—Just Shuffling Wallets
The International Monetary Fund has drawn a sharp line under the latest bout of speculation over El Salvador’s Bitcoin strategy, telling reporters that the Central American nation has not added to its sovereign stash. Apparent increases in the Strategic Bitcoin Reserve Fund (SBRF), the IMF said, merely reflect “movements across various government-owned wallets” and leave […]
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