Summary
- El Salvador’s bitcoin (BTC) holdings have reportedly declined by about $300 million in value as bitcoin prices fell.
- El Salvador is said to be continuing to buy bitcoin despite losses while also holding talks on a $1.4 billion IMF loan.
- Some analysts said factors such as El Salvador’s push for additional purchases and delays in pension reform could affect negotiations for IMF support.
El Salvador’s bitcoin (BTC) holdings have reportedly fallen by about $300 million in value as bitcoin prices declined.
According to Walter Bloomberg, a breaking-news account, on the 12th (local time), the volatility of the crypto (virtual asset) investment strategy pursued by President Nayib Bukele has come back into focus. As the bitcoin price correction continues, the valuation of the country’s holdings has also declined.
El Salvador is said to be continuing to buy bitcoin despite the losses. At the same time, it is in talks over a $1.4 billion loan with the International Monetary Fund (IMF).
Some analysts noted that El Salvador’s stance of additional purchases and delays to pension reform could affect negotiations for IMF support.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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