El Salvador buy 21 BTC wey no follow IMF, hit 6,313 BTC reserve
For di fourth anniversary wey El Salvador adopt Bitcoin as legal money, dem buy 21 BTC—dis na small sign for Bitcoin 21 million cap—e no mind di IMF wey talk say make dem no buy crypto on top their own free will. Since March 2024, di government dey buy 1 BTC every day, so dem keep 6,313 BTC (about USD 700 million).
For di December IMF Extended Fund Facility, dem tell El Salvador make dem stop all new Bitcoin buy and change their Bitcoin Law. IMF talk say El Salvador don spend about USD 300 million on Bitcoin since 2021, and dem still get over USD 400 million unrealized gains, but because dem no show full info, independent audit no fit verify well.
To make security strong against quantum wahala and make things clear, National Bitcoin Office scatter dia holding into addresses wey no pass 500 BTC each, and dem begin public dashboard. People wey like am talk say dis one long term strategy correct; but others dey talk say e fit cause wahala with IMF relationship and compliance review go last till 2027. Dis move make market believe El Salvador dey positive about Bitcoin, but e still cause question on policy wahala and audit clarity.
Bullish
El Salvador dem dey still buy Bitcoin plenty, dis show say government dey back am well well and dey gather reserve steady, e dey make market people feel good. For short term, traders fit see say buying 21 BTC and everyday buying na sign say price of BTC fit go up. For long term, dis plan show say dem really believe say Bitcoin good to keep value. Even though wahala with IMF fit bring yawa for regulation, how dem dey open for how dem dey take distribute reserve and the public dashboard dey reduce some risk, e make the whole matter dey look positive.