Bitcoin Price Rises As El Salvador Rejects IMF Call To Ditch BTC
Bitcoin started rising with the news El Salvador rejected the IMF request to drain BTC as a currency. In response, Bitcoin grew to a 14-day high price level, adding more than a quarter trillion US dollars into the crypto market. Price tendency follows the pathetic month for cryptocurrency since March 2020. At that time, Bitcoin reached a price level of $5,000 due to panic selling off after the Covid-19 pandemic threat. After that, Bitcoin raised and achieved its all-time high price level of $69,000 in November 2021. But soon after that, Bitcoin started a downward journey, coming to the....
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El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.”
El Salvador Says No to IMF on Bitcoin
The government of El Salvador has rejected a recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender in the country.
The IMF urged El Salvador last week to drop bitcoin’s use as legal tender and....
The International Monetary Fund (IMF) managing director has called for a “ prudently designed” central bank digital currency to rival private forms of crypto-assets and stablecoins. “If CBDCs are designed responsibly, they can potentially offer more resilience,” said Kristalina Georgieva during an interview last week. However, she continued by acknowledging that while these types of currencies may have their benefits in certain circumstances, they come with risks. The future of money, cryptocurrency, and central bank digital currencies was the topic at hand for IMF Managing....
El Salvador was the first country to make Bitcoin a legal tender. Though some speculations have given pessimistic forecasts on the implications for the nation, things seem to be moving in a contrary wave. El Salvador’s tourism record has shown a tremendous spike for the first half of 2022. According to government data, the country […]
IMF directors said they see ‘risks’ in using bitcoin as currency and issuing bitcoin-backed loans.
El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has bought the dip again. The Salvadoran government has purchased a total of 1,120 bitcoins, currently worth more than $68 million. El Salvador’s Bitcoin Holdings Grow El Salvador has bought the dip again, taking advantage of the falling price of bitcoin on Wednesday. President Nayib Bukele tweeted: “It was a long wait, but worth it. We just bought the dip.” At the time of writing, the price of bitcoin is $61,129, down from an all-time high of almost $67,000 on Oct. 19 based on data....