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Latam Insights Encore: El Salvador’s Bitcoin bragging signals a point of no return

El Salvador has firmly established Bitcoin as a core part of its economic identity. During talks with Chinese officials, Vice President Felix Ulloa highlighted the nation’s significant Bitcoin reserves, boasting about the over 6,000 BTC they hold. The nation’s dedication to Bitcoin is considered irreversible, barring any significant crisis.

While there are concerns over a 1.4 billion USD IMF credit line potentially impacting Bitcoin activities, as of now, no changes have occurred. Public support for President Bukele remains HIGH, suggesting continuity in Bitcoin policy is likely. El Salvador’s central focus on Bitcoin will persist, potentially sacrificing only minor linked operations to placate the IMF.

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