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🇸🇻EL SALVADOR SECURES $3.5 FUNDING DEAL
➡️Bitcoin remains legal tender
➡️El Salvador will continue buying bitcoin (at possibly an accelerated pace) for its Strategic Bitcoin Reserve
➡️Bitcoin capital markets will continue to be built; for example, the recent tokenized issuance…— Stacy Herbert 🇸🇻🚀 (@stacyherbert) December 19, 2024
The IMF is of course pushing the dollar, despite the fact that every country would do much better if they were on the Bitcoin standard.
The IMF, like all of these “international” organizations is simply a branch of the US federal government, and they will do whatever the US government wants them to do.
El Salvador said on Thursday it would keep buying bitcoin, possibly at an accelerated pace, a day after the government reached a financing agreement with the International Monetary Fund that had said it should limit its exposure to the cryptocurrency.
Stacy Herbert, El Salvador’s national bitcoin office director, wrote on X that bitcoin would remain legal tender in the Central American country, and that the government would keep adding to its strategic reserves.
On Wednesday, El Salvador struck a $1.4 billion loan deal with the IMF, as part of which the government of President Nayib Bukele agreed that it would scale back its bitcoin policies. The deal specified that tax payments will only be made in the other official tender, the U.S. dollar.
IMF spokesperson Julie Kozack said on Thursday that planned legal reforms in El Salvador would make acceptance of bitcoin by the private sector voluntary.
…
El Salvador owns 5,968 coins, valued at $594 million. Bitcoin has rallied in recent days after U.S. President-elect Donald Trump reiterated plans for a strategic reserve for the cryptocurrency, similar to a strategic oil reserve.
Well, it didn’t rally today, I can tell you that much.
But hey, look – it’s on sale today.
Trump’s statements about a Bitcoin reserve are a lot bigger deal than the fed making statements about rates. Trump is going to lower rates regardless to get money flowing again.
Bitcoin will probably go back down again in the future… but maybe it won’t?
It’s probably the only asset that even makes sense. You can say real estate, but how much confidence do you have that the US government won’t confiscate your property?
Bitcoin is one thing they cannot confiscate.
To recap:
The Bitcoin Law was rather unfortunately launched straight into a bear market.
Domestically, it was one of Bukele’s least popular policies. Most people didn’t know what Bitcoin was or thought it was a scam. pic.twitter.com/afqos4SXkm
— Lina Seiche (@LinaSeiche) December 19, 2024
Loans were frozen. The IMF threatened to kill its year-long loan negotiations.
They wanted—needed—the world to understand: Bitcoin makes you an outcast.
Can the Bitcoin Law make up for billions in lost income? Definitely not in the short term, and Bukele had a country to run. pic.twitter.com/ydqp8jKpom
— Lina Seiche (@LinaSeiche) December 19, 2024
This perseverance paid off when El Salvador emerged from the bear market with:
➡️ its Bitcoin holdings in profit
➡️ an array of new financing deals
➡️ recovering credit ratings
➡️ a Bitcoin Country brand that looks stronger than ever. pic.twitter.com/VyRnppRaws— Lina Seiche (@LinaSeiche) December 19, 2024
Following negotiations and a proverbial turning of the tables, the IMF has made big concessions.
Could El Salvador do without the loan? Yes, probably.
But that would be an ideological decision, not a pragmatic one—small countries generally don’t do well in the ideology game. pic.twitter.com/wTVGx4ZSNI
— Lina Seiche (@LinaSeiche) December 19, 2024
… for the IMF:
It’s a way to save face. It would set a very bad precedent if Bitcoin Country did away without the loan. So the IMF cashed in its symbolic victories instead and called it a day (“you must use dollars to pay your taxes!”). pic.twitter.com/xBtauo7UcJ— Lina Seiche (@LinaSeiche) December 19, 2024
It’s easy to criticize from a point of idealism, but the real world requires nuance, strategy, and the consideration of political cost vs. benefit.
Everyone involved in the deal can frame the outcome in their favor. As for Bitcoin Country, I have a feeling there’s more to come. pic.twitter.com/uNDx3qw2us
— Lina Seiche (@LinaSeiche) December 19, 2024
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What if the IMF knows that Bitcoin is a scam to strip out real wealth and assets in exchange for Bitcoin, meaning that when El Salvador holds a F-ton of Bitcoin, IMF will have even less of intrinsic value to plunder when the appropriate time arrives ?
If Bitcoin had any intrinsic value, the IMF would have no concerns about taking it when it comes time to plunder a country.
For the love of God…
The IMF is not concerned about “profits”, they care about keeping the international fiat scheme going. It is an instrument of power.
Bitcoin, a real currency similar to gold, is a threat to this order. The intrinsic value of bitcoin is the fact that you can not inflate the supply willy nilly. You can only do so by mining new bitcoins, and this is an arduous process similar to mining real gold.
The only thing superior to bitcoin is gold.
Until the power goes out, or the blockchain is hacked.
“Bitcoin a real currency similar to gold” LOLOLOLOLOLOLOLOLOL, what do you say to this even? It’s even more counterfeit than ” the dollar”. LOLOLOLOLOLOLOLOL. Let me give up real tangible items for some “money” that is “mined” on the internet. No wonder they don’t have any problem gaslighting people these days. LOLOLOLOLOLOL
“Bitcoin is one thing they cannot confiscate.”
Is this that trademark Anglin sarcasm, or has he forgotten everything he knows about ZOG all of a sudden?
Exactly if the BS IMF is saying don’t buy it then they want them to buy it so like you say they can strip-mine the real economy. As far as Alexandros says, bit coin is a damned digital currency what’s to mine. You can create these digital units with key strokes.
Unlike dollars, pounds or other fiat currencies, you can not simply create a bitcoin with a keystroke. It is a complicated and time consuming process. You need real computer power, which means real time and real electricity. It is simply not possible to inflate it without putting in tons of real world resources.
That is the reason bitcoin is worth so much. The creation of these new coins can not keep up with the amount of money invested in it.
Bitcoin is also anonymous and practically immune from government interference. The fact that it is digital means you can move and store bitcoins very easily. In this regard, it is even better than gold.
And the fact that government is cracking down hard on bitcoin is another obvious sign that this is good for us and bad for them.
What do holders of Bitcoin want in exchange for their ‘currency?’ Gold?….. Dollars?…..
Maybe real estate?….. Maybe anything, and everything, else of real value?
Ever since that question was put to me, in 1979, I haven’t paid much attention to all the con-men and other such fleecing artists, who say the dollar is no good.
I`m buying Kaspa as well as Bitcoin at the moment.
Kaspa is a kind of mini Bitcoin at $0.10 so getting thousands of them now while there cheap.
They can stick up their fucking zeros from where they come.
Much computer power and electricity needed for to create zeros !
Its fun with idiots, ALIENS, con artists.
Nothing you do with computer are anonymous.
What you don’t have in your hand are in someone else hand.
It seems that the silicon based ALIENS are incapable of understand that “Digital money” completely erase your control of your money. That’s the goal.
Bitcoin is safe for its purpose. You don’t put your life savings in a digital coin. That’s where you have gold.
Of course you can invest and hope to make a profit speculating, that’s a gamble like anything is, but the real benefit of an anonymous currency is that you can evade government regulations with it.
And not anonymous? When they busted the guy who ran Silk Road, they had the entire FBI working on it. They could get nowhere with their fancy computers. Finally some ex-IRS guy did some old fashioned detective work and found an old social media post that linked to this guys screen name.
I know of a case personally where a man was convicted of online fraud and they sent his computer to the FBI. They couldn’t get past the encryption and he got a lighter sentence because of it. This dude was not some computer genius. A friend of his father, some random computer nerd, simply showed him how to download the program. That’s all it took to encrypt a hardrive with incriminating evidence to the point where the FBI gives up trying to crack it.
The computer world is not like TV.
For those of you who know about this topic.
What if governments make Bitcoin illegal? How do you justify your purchases to the tax office?
Explain how they confiscate twelve words in your head.
With a loaded gun pointed at said head.
So the government has no idea if you possess any crypto but it will just shoot you either way. Seek help, you hysterical dimwit.