So, the IMF said “Hey, maybe don’t go too wild with the crypto thing” as part of a $1.4 billion loan agreement. But guess what? El Salvador just kept stacking that BTC like it’s Black Friday. The country’s Bitcoin Office is happily scooping up one shiny BTC every day. Oh, and now they’ve got $357 million in unrealized gains. Good thing someone’s doing their homework while the rest of us are still figuring out how to set up a wallet.
El Salvador’s BTC Treasure Trove
President Nayib Bukele took to X (formerly Twitter – because who even knows anymore?) to show off a screenshot of his country’s BTC portfolio, now worth a whopping $644 million. How much did they start with? A humble $287.1 million. So, that’s like a cool 124% profit. Who needs a 401k when you’ve got crypto, right? 😎
And despite the global eye rolls from institutions like the IMF, El Salvador isn’t backing down. Bukele’s all like, “Yeah, I’m still gonna hold onto this crypto dream” while the financial world collectively sighs and shakes their heads. Bold move, El Salvador. Bold move. 👏
In fact, they’re now sitting pretty with 6,181 BTC, making them the sixth-largest sovereign Bitcoin holder in the world. Right behind the U.S., China, the UK, Ukraine, and Bhutan. Yes, you read that right – Bhutan. Seriously, it’s like a crypto party and El Salvador’s just dancing in the middle of it. 🕺💃
Bitcoin Bet Marches On Despite IMF Constraints
So back in December, El Salvador had to agree to tone it down a bit for the IMF’s $1.4 billion loan (spoiler: they didn’t). The deal came with a bunch of “don’t do this” conditions, like scaling back their Bitcoin policies. And hey, they even agreed to let businesses *optionally* accept Bitcoin. Phew, right? That’s *some* compromise.
But of course, Bukele’s like, “Nope, still stacking BTC!” The President’s pretty vocal about how the cryptocurrency is still going to be a key part of his vision, even if the rest of the world thinks he’s gone off the deep end. But hey, when your portfolio’s looking this good, who cares what anyone thinks? 💁♂️
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2025-05-19 22:23