Bitcoin Updates: El Salvador Purchases Bitcoin During Market Slump, Challenging Widespread Panic
- El Salvador bought 1,100 BTC at $90,000, boosting reserves to 7,470–7,500 BTC amid market selloffs. - The purchase defied crypto panic, aligning with Bukele's 2025 IMF-backed Bitcoin accumulation strategy. - Domestic geothermal mining added 474 BTC since 2021, while critics question fiscal sustainability under IMF constraints. - Global institutions like MicroStrategy also capitalized on the dip, but Bitcoin remains volatile near $93,600.
El Salvador's
El Salvador recently boosted its national bitcoin reserves by about 1,100 coins, spending $100 million
This move came during a broader downturn in the crypto sector,
The high-profile purchase has drawn attention amid ongoing market instability. While El Salvador’s $100 million investment signals faith in bitcoin’s future, experts remain split on whether the current downturn could deepen further.
Some critics have raised concerns about the long-term viability of El Salvador’s approach, especially given fiscal restrictions from the IMF. The fund initially aimed to limit public bitcoin exposure under the 2025 program, though
As Bitcoin’s value
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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