[Coin World] The International Monetary Fund is optimistic about El Salvador's economic prospects. According to the latest IMF forecasts, driven by strong remittances and investment, the Central American country is expected to achieve a real GDP growth rate of 4% by 2025.
Interestingly, there is a contradictory phenomenon hidden behind this. El Salvador had promised the IMF to stop holding official Bitcoin and to dispose of the Chivo wallet infrastructure as a condition for receiving a $1.4 billion aid package. This seemingly “softened” its attitude towards Bitcoin.
But the on-chain data tells another story. According to Arkham's tracking, the country has not actually stopped. On the contrary, it continues to purchase Bitcoin every day. So far, El Salvador's Bitcoin holdings have accumulated to about 7508 coins. What does this steadfast continuous buying reflect?
On one hand, President Bukele's stance is highly aligned with American politicians, providing support for the political legitimacy of Bitcoin. On the other hand, the fact that El Salvador continues to increase its holdings despite pressure from international institutions like the IMF indicates that its confidence in the long-term value of Bitcoin remains unshaken. This kind of “verbal commitment while quietly continuing” operation may be casting a vote for the macro outlook of Bitcoin once again.
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"Secretly buying coins" in El Salvador? Still increasing daily under the IMF protocol, what signal does the release of 7,500 Bitcoins send?
[Coin World] The International Monetary Fund is optimistic about El Salvador's economic prospects. According to the latest IMF forecasts, driven by strong remittances and investment, the Central American country is expected to achieve a real GDP growth rate of 4% by 2025.
Interestingly, there is a contradictory phenomenon hidden behind this. El Salvador had promised the IMF to stop holding official Bitcoin and to dispose of the Chivo wallet infrastructure as a condition for receiving a $1.4 billion aid package. This seemingly “softened” its attitude towards Bitcoin.
But the on-chain data tells another story. According to Arkham's tracking, the country has not actually stopped. On the contrary, it continues to purchase Bitcoin every day. So far, El Salvador's Bitcoin holdings have accumulated to about 7508 coins. What does this steadfast continuous buying reflect?
On one hand, President Bukele's stance is highly aligned with American politicians, providing support for the political legitimacy of Bitcoin. On the other hand, the fact that El Salvador continues to increase its holdings despite pressure from international institutions like the IMF indicates that its confidence in the long-term value of Bitcoin remains unshaken. This kind of “verbal commitment while quietly continuing” operation may be casting a vote for the macro outlook of Bitcoin once again.