The International Monetary Fund (IMF) Board will consider this Wednesday El Salvador's request for $1.4 billion in financial assistance.
At the request of the IMF, the country's government has reformed its controversial bitcoin law to strengthen the financial assistance program.
The IMF Executive Board, the highest body of this multilateral organization, will consider the Salvadoran government's request for a financial assistance program.

The Board's approval will be based on compliance with the preconditions assumed by the Naib Bukele administration.  At the same time, the reforms of the Bitcoin law are of greater importance, which has become a stumbling block for the government since its entry into force in September 2021, preventing an agreement and costing four years of negotiations.

In my opinion, most likely, Bukele played a very successful political and financial game with the IMF, using the banking community's fear of Bitcoin. In my opinion, this ingenious combination has allowed him to now maintain Bitcoin circulation in the country, albeit in a slightly limited form. And for Bukele, the change in Bitcoin circulation was a powerful trump card in negotiations with the IMF. As a result, I believe that these $ 1.4 billion are provided to him on good terms. And in general, Bukele seems to be pursuing an excellent policy in the financial and economic, as well as IT investment sectors of El Salvador. If you add his aggressive and very effective fight against crime, then it turns out that more than 80-86% of the population supports such a president.  We can all only rejoice that the people of El Salvador elected such an active, thoughtful and insightful president.

El Salvador has not bought any Bitcoin in a week.

This is the longest pause in its “Bitcoin a Day” program since the Bitcoin Office began reporting official metrics.



https://x.com/BitcoinNewsCom/status/1894090500468093262?t=sgXArDQgoqaQJFNZv5Yjmw&s=19

BREAKING: El Salvador just bought the #Bitcoin dip, adding 7 $BTC to their reserve.

Chief Treasury is back from vacation — LFG!
X

The Salvadoran government added seven bitcoins to the national reserve

With the new purchase, @nayibbukele's administration reaffirms its intention to strengthen the strategic reserve of bitcoin.

The Salvadoran government added seven bitcoins to the country's national reserve on Monday, bringing the number of coins available in the Public Treasury to 6,088, worth $574 million at the price of $93,000.

"O ye of little faith…" President Nayib Bukele wrote in 𝕏 when announcing the new acquisition, alluding to comments from some members of the community, who pointed out that no bitcoin had been purchased in the last six days.
x.com/nayibbukele/st…

With yesterday's move, Bukele's administration is catching up on the daily strategy and reaffirming its intention to strengthen the strategic reserve.

After its publication, Michael Saylor, executive chairman and co-founder of Strategy (formerly MicroStrategy), a U.S. company with a market capitalization of $83,000 million, which has reserves of 478,740 bitcoins, responded: "I have faith."
Recently, @saylor and Bukele held a meeting in which they discussed the adoption of Bitcoin and the benefits it can bring to the country.

x.com/nayibbukele/st…

For its part, the National Bitcoin Office (ONBTC) @bitcoinofficesv published on the matter: "Stacking will continue until morale improves!"

In a recent interview with this media, @stacyherbert, director of the National Bitcoin Office (ONBTC), was blunt and assured that the state's strategic reserve will continue to grow.

x.com/bitcoinoffices…

"Our bitcoin buying strategy will remain the same and may even increase," she stated.
Bukele began in 2021 with an occasional purchase of units of the digital asset and at the end of 2022 intensified that action with the announcement of the acquisition of one bitcoin per day. To date, 830 bitcoins have been purchased through the periodic strategy, with a yield of 100%.

Article: @elsalvador   By: @kealrive22
Translated: @ESTRANSLATED
https://x.com/ESTRANSLATED/status/1894177818474430696?t=U_ldUUBZ_OJHRKvEdIzH8w&s=19

El Salvador's President Nayib Bukele is the most likely to make a deep purchase of Bitcoin at this time. Because he buys one Bitcoin every day, he is buying a deep purchase every day in this current position. There are various reasons for the current decline in the price of Bitcoin, but there is a positive side to investing in Bitcoin for El Salvador.
 Because he is holding Bitcoin regularly, he will be able to hold this holding for more in the future. Because he will be able to hold Bitcoin for the next bull run or for a longer period of time.

They have made Bitcoin as a legal tender and I don't think that they have a choice to keep it now and then sell it on the next bull run. They'd probably sell some but I guess that they're accumulating most of it for them to have it as a backing to it as a legal tender. It takes a lot for them to let their people understand its whole use for their own country and economy. That's why I am believing that they're not going to sell and that's to keep its value for their own economy because there is no other way it will go but only going up and to benefit themselves for being a legal tender.

Well, it looks like El Salvador's steps to continue accumulating Bitcoin are still continuing. Where there is a correction in the market, that's when we continue to see this country continue to collect bitcoin little by little. And now in the last 24 hours even El Salvador has also collected back 5 BTC and is actually +9BTC compared to your picture above. And yeah this is a good move for the long term. I always remember the days when the price of bitcoin was $16k USD. At that time, many criticized El Salvador regarding their bitcoin purchases which seemed too expensive at that time which was at the ATH price in the bullish season last season. But if we look at current prices, even in the midst of the correction we can see that El Salvador is at least buying at prices that are quite low compared to current prices. And let's look again in the next 10 years.

The IMF is seeking to block 🇸🇻 El Salvador from buying more Bitcoin and refrain from issuing Bitcoin-backed debt or tokens as a condition of its 💵 $1.4B loan agreement.

https://x.com/BitcoinNewsCom/status/1896910275821113575?t=RWY8w4EFhVqtyQbcBkwWzQ&s=19

Kudos for a pretty good rundown of objective reality (if true.)  This contrasts sharply with the standard ''Winning - Nothing But Blue Skies' BS from cringy 'social media influencers'.  I find it much more confidence inspiring to just know the facts so I could make viable projections about whether various actions are likely to resolve known issues, and to make some inferences about timings.

As far as under what conditions the IMF will allow the government of El Salvador to have BTC (and make their own reserve currency decisions), it is not very clear what the rules would be if there were a REAL 'public/private partnership'.  That is to say, the BTC stash is held in multi-sig between the government and individual private citizens.