El Salvador Adds 11 BTC to Reserves Amid Promises to Limit Adoption
This development follows a December 2024 agreement with the IMF, where El Salvador pledged to curb its Bitcoin policies in exchange for a $1.4 billion loan.
This development follows a December 2024 agreement with the IMF, where El Salvador pledged to curb its Bitcoin policies in exchange for a $1.4 billion loan.
Ben El-Baz, Managing Director of HashKey Global, emphasized Bitcoin's decentralized, inflation-resistant nature as a challenge to traditional assets like gold and U.S. Treasury bonds.
The Department of Justice (DOJ) has already begun transferring portions of the cache, moving nearly $2 billion worth of Bitcoin to Coinbase on December 3, under a custody arrangement with Coinbase Prime through the U.S. Marshals Service.
The ISA’s decision comes nearly a year after the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETFs), sparking a surge in global interest in Bitcoin-based investments.
The inclusion in the Nasdaq-100 was widely praised by Bitcoin proponents, with analysts pointing to the potential impact on trading volume and price.