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El Salvador President to Continue Purchasing Bitcoin (BTC)

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JH Kim
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  • The President of El Salvador announced plans to continuously stockpile Bitcoin.
  • The El Salvador government eased Bitcoin-related policies after the agreement with the IMF.
  • Bitcoin has been showing a recent downward trend in price.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

According to cryptocurrency media Watcher Guru on the 19th (local time), El Salvador President Nayib Bukele stated that he will "continue to stockpile Bitcoin (BTC) as a strategic reserve asset" and plans to "purchase BTC at a faster pace than before." Previously, El Salvador announced that it would ease Bitcoin-related policies and reduce Bitcoin-related activities in the public sector during the process of negotiating a $1.4 billion loan agreement with the International Monetary Fund (IMF). Meanwhile, BTC is trading at $10,456.02, down 3.82% from the previous day, based on the Binance Tether (USDT) market as of 00:56 on the 20th.

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