El Salvador will make Bitcoin acceptance by merchants voluntary, reduce its involvement in the Chivo wallet, and limit public sector Bitcoin-related activities as part of a $1.4 billion loan agreement with the International Monetary Fund (IMF).
The IMF announced on Dec. 18 that El Salvador would receive $1.4 billion over 40 months to lower its debt-to-GDP ratio.
“The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies.
Legal reforms will make acceptance of Bitcoin by the private sector voluntary,” the IMF stated.
“For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined.”
Additionally, taxes will continue to be paid in U.S. dollars — El Salvador’s official currency — and government involvement in the Chivo wallet will be gradually phased out.
El Salvador began purchasing Bitcoin in 2021 and currently holds 5,968.8 Bitcoin, valued at approximately $602 million, according to the National Bitcoin Office.
A spokesperson from the office told Cointelegraph that the country will continue its Bitcoin accumulation strategy.
“We will keep buying one Bitcoin a day (likely even more in the future), and we will not sell any of our current holdings,” the spokesperson stated.
“The plans for the Bitcoin Office remain the same as Bitcoin continues to be our main strategy.”
The agreement, still pending approval from the IMF Executive Board, concludes four years of negotiations following President Nayib Bukele’s adoption of Bitcoin as legal tender in September 2021, making El Salvador the first country to do so.
The IMF has consistently urged Bukele to abandon Bitcoin, citing its speculative nature as a potential risk to the country.
The deal will also unlock additional loans, including from the World Bank, for a total financing package exceeding $3.5 billion.
Reacting to the announcement, Bukele’s Bitcoin adviser Max Keiser dismissed the IMF’s stance, stating on X, “Nobody pays attention to these assh****,” and labeled the agreement “bureaucratic, meaningless nonsense.”
Keiser added, “Bitcoin use in El Salvador was always voluntary, and its usage has never been higher and continues to grow.”
However, a recent survey revealed that 92% of Salvadorans do not use Bitcoin for transactions, up from 88% in 2023.
Bitcoin briefly slipped below the $100,000 psychological level before reclaiming it, sparking mixed reactions among crypto analysts.
“Bitcoin is developing a bearish engulfing weekly candlestick formation,” pseudonymous trader Rekt Capital shared with their 518,900 followers on X in a Dec. 19 post.
Bearish Pattern Yet to Be Confirmed
Rekt Capital noted that the potential downtrend is not yet set in stone. “There are still a few days until the end of the week to ‘fully confirm’ the downtrend, and ‘lots can change’ in the meantime,” they stated.
“Technically, this is still a dip until Weekly levels are confirmed as lost,” they added.
Between 2 and 3 am UTC on Dec. 19, Bitcoin briefly dipped below $100,000 for the first time since Dec. 13, reaching a low of $99,047, according to CoinMarketCap.
This dip occurred amid a broader crypto sell-off following the U.S. Federal Reserve’s announcement of a 25 basis point rate cut and hints at fewer rate cuts in 2025 than initially anticipated.
Not Everyone Is Concerned
Some traders downplayed the dip. “This pullback is pretty normal for Bitcoin. We’ve had 8 of them since October,” Bitcoin Archive commented on X.
“If you’re selling your Bitcoin in reaction to what the Fed said today, you have no idea what you own,” added crypto commentator James Lavish.
Volatility Is Part of Price Discovery
Bitcoin reached $100,000 for the first time on Dec. 5, driven by ETF demand, the upcoming April halving, and Donald Trump’s election victory.
Rekt Capital reminded traders that volatility is natural in this phase. “Technically, it is Week 7 in Price Discovery, which historically meant that BTC corrections occur around this time,” they said.
While some see such dips as “flash crashes,” Rekt suggested the correction could extend into next week, adding, “We know that Week 7 and Week 8 in Price Discovery have historically been corrective weeks.”
Sportsbet.io, the world’s favourite crypto sportsbook, is celebrating the holiday season with two more blockbuster additions to its roster of ambassadors.
Navy Kenzo, the renowned and award-winning Tanzanian afrobeats duo, become the latest superstars from the world of music to ‘Join the Crypto Experience’ with Sportsbet.io.
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He’ll be helping to spread the word about Sportsbet.io across his extensive network in the entertainment world.
Sportsbet.io’s ‘Join the Crypto Experience’ ambassador program has rapidly expanded across sports, entertainment and other areas, with globally recognised names, like Nigerian actor and model JayPaul, joining the fray.
If you are a natural-born networker with world-class content creation skills, you may also be able to join.
Find out more here: https://jointhecryptoexperience.io/.
About Sportsbet.io
Founded in 2016 as part of Yolo Group, Sportsbet.io is the leading crypto sportsbook. Sportsbet.io has redefined the online betting space by combining cutting-edge technology, with cryptocurrency expertise and a passion for offering its players with the ultimate fun, fast and fair gaming experience.
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Chill Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Chill Pepe (CHILPEPE), a new Solana memecoin that was launched today, is set to explode over 14,000% in price in the coming days.
This is because CHILPEPE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Chill Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Chill Pepe could become the next viral memecoin.
Chill Pepe launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Chill Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Chill Pepe by entering its contract address – AfPftBmzfb2pan4Drt2ZKgT7VK5Rn7CLQHpp8DpLhXZj – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like CHILPEPE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Musk Loves USA could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Musk Loves USA (MUSKUSA), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days.
This is because MUSKUSA is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Musk Loves USA can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Musk Loves USA could become the next viral memecoin.
Musk Loves USA launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Musk Loves USA on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk Loves USA by entering its contract address – DdmquVnPoj7RrjCiZ1yAc8p3b6bmCagcRUedBH6c572h – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKUSA.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Trump’s Bitcoin Reserve could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump’s Bitcoin Reserve (TRUMPRES), a new Solana memecoin that was launched today, is set to explode over 17,000% in price in the coming days.
This is because TRUMPRES is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump’s Bitcoin Reserve can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump’s Bitcoin Reserve could become the next viral memecoin.
Trump’s Bitcoin Reserve launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Trump’s Bitcoin Reserve on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump’s Bitcoin Reserve by entering its contract address – 2GxwMgJnqbDuDec9gMVNfN2n8eVf7ks1EUv1RZSCLNm1 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPRES.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Nasdaq announced that MicroStrategy (MSTR), led by prominent Bitcoin advocate Michael Saylor, will be added to the Nasdaq-100 Index starting Dec. 23.
MicroStrategy joins Palantir Technologies Inc. (PLTR) and Axon Enterprise, Inc. (AXON) as new additions to the index, according to a Dec. 13 statement from Nasdaq.
Meanwhile, Illumina, Inc. (ILMN), Super Micro Computer, Inc. (SMCI), and Moderna, Inc. (MRNA) will be removed.
MSTR Now Among Nasdaq’s Largest Companies
MicroStrategy, originally a software company that pivoted into becoming a de facto Bitcoin hedge fund in 2020, is now among Nasdaq’s 100 largest stocks by market capitalization.
Its inclusion also means that the Invesco QQQ Trust (QQQ), an ETF managing $322 billion in assets, will add MSTR to its portfolio.
Crypto Industry Reacts to the News
The announcement sparked excitement across the crypto community.
Crypto analyst Will Clemente commented on X, “Now that MSTR is getting added to the Nasdaq, every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.”
Jeff Park, head of alpha strategies at Bitwise Invest, declared, “The trade of the decade is just getting started. Buckle up.”
Felix Hartmann, founder of Hartmann Capital, added, “This news is not priced in until public markets open,” predicting active managers benchmarking against Nasdaq would adopt direct exposure to Bitcoin or MSTR to stay competitive.
Saylor’s Bitcoin Push Extends to Microsoft
This development follows Michael Saylor’s recent attempt to persuade Microsoft’s board to embrace Bitcoin.
During Microsoft’s annual meeting on Dec. 10, Saylor proposed that adopting Bitcoin could add nearly $5 trillion to Microsoft’s market cap.
“Microsoft can’t afford to miss the next technology wave, and Bitcoin is that wave,” Saylor argued.
Crypto exchange Coinbase is being sued for over $1 billion by BiT Global Digital Limited, alleging market harm after Coinbase’s November decision to delist Wrapped Bitcoin (wBTC).
In a Dec. 13 complaint, BiT Global accused Coinbase of delisting wBTC to promote its own product, cbBTC.
The move allegedly caused significant financial losses and damaged consumer confidence in wBTC.
The lawsuit claims attempted monopolization of the wrapped Bitcoin market under the Sherman Act, predatory practices to undermine wBTC, and false statements suggesting wBTC failed to meet listing standards.
Coinbase announced the token delisting on Nov. 19, citing undisclosed failures to meet its listing standards.
A Coinbase spokesperson defended the decision, stating: “Coinbase is committed to maintaining the high integrity of our listing standards, and we regularly evaluate assets listed on our platform. Should an asset fail to meet those standards, it is delisted.”
BiT Global, a Hong Kong-based crypto exchange, has been a joint custodian of wBTC reserves with BitGo since August.
The lawsuit, filed in the Northern District of California by law firm Kneupper & Covey, alleges Coinbase favored memecoins while challenging wBTC’s compliance with listing standards.
Attorney Kevin Kneupper stated, “We believe this decision sets a terrible precedent for everyone in the cryptocurrency space. If an exchange of Coinbase’s size can delist a cryptocurrency just as it plans to launch its own competing product, who’s safe? And who’s next?”
The lawsuit seeks damages exceeding $1 billion and demands injunctive relief to prevent further harm.
BiT Global claims Coinbase aimed to eliminate competition, stating: “It’s clear that Coinbase’s decision is an attempt to gain a competitive advantage, pushing forward their own wrapped Bitcoin product, cbBTC, and removing the largest and most influential competitor in wBTC.”
Coinbase previously announced: “Based on our most recent review, Coinbase will suspend trading for wBTC on Dec. 19, 2024, on or around 12 pm ET.”
Homo Shiba Inu could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Homo Shiba Inu (HOMOSHIB), a new Solana memecoin that was launched today, is set to explode over 15,000% in price in the coming days.
This is because HOMOSHIB is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Homo Shiba Inu can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Homo Shiba Inu could become the next viral memecoin.
Homo Shiba Inu launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Homo Shiba Inu on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Homo Shiba Inu by entering its contract address – 6ej331YS6ECER9uk784JZwiajc83YsrqDehvGTpoRpPh – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like HOMOSHIB.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Elon’s Gold could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Elon’s Gold (ELONGOLD), a new Solana memecoin that was launched today, is set to explode over 18,000% in price in the coming days.
This is because ELONGOLD is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Elon’s Gold can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon’s Gold could become the next viral memecoin.
Elon’s Gold launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Elon’s Gold on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Elon’s Gold by entering its contract address – 81F7f7AKQ3UZr78JQNcegX8UFLzeFXBWoAyDXs2H5Xuv – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like ELONGOLD.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.