tldr; The IMF confirmed that El Salvador is in advanced negotiations to sell its state-run Chivo Bitcoin wallet. This follows a May agreement where the IMF provided $120 million as part of a $1.4 billion loan deal, requiring El Salvador to halt Bitcoin acquisitions and limit public sector involvement in BTC-related activities. Despite this, El Salvador’s Bitcoin Office reported ongoing crypto purchases. The country, which adopted Bitcoin as legal tender in 2021, holds 7,509 BTC, with President Bukele continuing his Bitcoin investment strategy.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; The IMF confirmed that El Salvador is in advanced negotiations to sell its state-run Chivo Bitcoin wallet. This follows a May agreement where the IMF provided $120 million as part of a $1.4 billion loan deal, requiring El Salvador to halt Bitcoin acquisitions and limit public sector involvement in BTC-related activities. Despite this, El Salvador’s Bitcoin Office reported ongoing crypto purchases. The country, which adopted Bitcoin as legal tender in 2021, holds 7,509 BTC, with President Bukele continuing his Bitcoin investment strategy.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.