El Salvador’s $666 million Bitcoin reserve survives IMF review

Share

The IMF unlocked $138 million for El Salvador when completing the second and third reviews of its $1.4 billion loan program on October 1. The fund granted waivers for missed performance criteria tied to Bitcoin accumulation after authorities took corrective measures, while maintaining the ban on state-funded Bitcoin purchases. El Salvador currently holds approximately 7,794.37 Bitcoin valued at roughly $666.1 million. Future reviews will hinge on reserve transparency, the Chivo wallet unwind and whether the country can document any new Bitcoin additions.

Source: Read the original article

Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
Telemac
Telemachttp://cryptoinfo.ch
Passionné de nouvelles technologies, j’explore l’univers de la blockchain et des cryptomonnaies pour partager l’actualité et les innovations du secteur.

Read More

Items