El Salvador to Ramp Up Bitcoin Buys for Strategic Reserve Despite IMF Agreement on Chivo Wallet

Dec 19, 2024, 03:01 PM

El Salvador plans to continue purchasing Bitcoin, potentially at an accelerated pace, for its strategic reserve, according to statements from Herbert, the Director of the Bitcoin Office in the country. This move comes despite an agreement with the International Monetary Fund (IMF) that will lead to the sale or discontinuation of the country's official Bitcoin wallet, Chivo. Bitcoin will remain legal tender in El Salvador, as confirmed by Herbert.