El Salvador to Scale Back Bitcoin Policies for $1.4 Billion IMF Loan Deal
El Salvador finalized a four-year $1.4 billion IMF deal strained by its Bitcoin adoption. It makes bitcoin use voluntary for the private sector, limits public sector bitcoin activities, and phases out government involvement in the Chivo wallet. It may also unlock extra $3.5 billion in development bank funds.
Then they fight you?
sources: IMF, Bloomberg, WSJ.
It's over.
Chad move would be to buy bitcoin. But he’s probably under threat of violence if he does.
This is why we can’t appoint heroes in bitcoin. Not even saylor
Definitely not Saylor. He's a great memer and watching him troll the system is entertaining and all, but he's got some really bad takes on some pretty key things. Leverage? Self Custody? Cheers on helping NGU I suppose, and demonstrating a path to adoption, but it should encourage people to enter the ring with him, not into bed.
Soon™️
Did not think they would fall for the carrot and stick method. Maybe they will double cross them by buying more to proof a point. 🤞
isn't it being voluntary better anyway? if you want the IMF fiat, you gonna bend the knee
El Salvador is gonna loose significantly more than 1.4yards in tourism-related revenue and FDI, as consequence of this.
I was not a legal tender anyway, the people on the street didn’t accept and the government didn’t pushed Bitcoin, IMF got crumbles for billions. I’ll call it a good deal for El Salvador
Not sure I understand the argument .
How can “securing” a loan from the IMF be a good deal?
A loan is a loan, regardless of the lender. What matters is that the interest rate is lower than the expected return on investment. The IMF has created a global network of economic junkies because their leaders are so consumed by short-term greed that they make oxycontin addicts look responsible.
Im still not getting it. I can’t tell if you’re sarcastic or if you think in paradoxes.
How can a loan be a good thing but in the same argument you call the people taking on the loan “junkies”.
It’s all about the leaders of the states accepting the loan. Bukele seems to have a complete different time preference and vision.
They'll use the money to mine and redine the gold rwserves they just discovered. Keep some in reserve, sell the rest on the open market, crashing the price in the process, unless its done slowly over time and use the revenue to buy more bitcoin.
Is this that Democracy everyone's been talking about?
Isn’t El Salvador a state? #Bitcoin separates money from State…ultimately.
