El Salvador Buy Record 1,090 BTC Amid IMF Loan Scrutiny
El Salvador make one record Bitcoin buy for November 18, dem buy 1,090 BTC for around $100 million as di price drop under $90,000. This Bitcoin buy put di country reserve from 5,968 to 7,475 BTC, wey now worth about $683 million. Dis one na the biggest single-day buy since President Nayib Bukele start daily buys since November 2022. E happen under $1.4 billion IMF arrangement wey dey stop public sector to buy Bitcoin anyhow. Even though IMF talk say recent reserve increase fit be because of internal transfer, El Salvador Bitcoin Office talk say di extra coins dem buy for open market with non-fiscal funds. People wey support di plan see am as long-term hedge, but critics dey warn about how e fit get big wahala with price changes and transparency mata.
Bullish
El Salvador record Bitcoin buy show say di kontri strong support di get, e reduce how many Bitcoin dey available and e create short-term price floor. When one kontri buy big big Bitcoin, e dey encourage market because traders dem dey see am as say demand dey grow. For long term, if di government continue to dey buy, e go make Bitcoin better as reserve asset and e fit stabilize market feeling. Even though IMF compliance and transparency worry fit bring wahala, overall effect for Bitcoin trading go dey positive since plenty institutional and retail investors go follow di government lead.