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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.

https://www.nobsbitcoin.com/el-salvador-to-scale-back-bitcoin-policies-for-1-4-billion-imf-loan-deal/

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serenitys forge 1y ago

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.

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