El Salvador showed itself Bitcoin Meeting achievements between Vice President Felix Olua Jr. and Zhang Yanhui, Ambassador of the People's Republic of China.
On December 23, Vice President Ulloa emphasized How Bitcoin Has Made El Salvador a Symbol of Financial Freedom He noted that the country's government reserves now include more than 6,217 bitcoins worth more than $500 million.
This development is largely attributed to the efforts of the Bitcoin Bureau led by Stacey Herbert. Under him, El Salvador began Several cryptocurrency pro projects and policies to foster greater adoption of emerging technology.
Meanwhile, this meeting took place against China's historical restrictive stance on digital currencies
While China enforces strict regulations to ban corporate crypto activities, recent developments – such as Bitcoin payments made by Nano laboratories and legal recognition of Cryptocurrency as an asset– Pointing to the potential softening of its policies.
Expanding Bitcoin Ambitions
Available information suggests that El Salvador is not stopping at its current Bitcoin reserves. The government plans to increase its reserves to 20,000 bitcoins, demonstrating its unwavering commitment to crypto adoption.
On December 21, Max Kaiser, senior adviser to the president Viceroy of Bokelerevealed plans to achieve this ambitious goal. he expressed:
“The interim goal in (El Salvador) is to get another 20,000 bitcoins.”
on the chain data It shows that El Salvador currently holds nearly 5,996 bitcoins worth approximately $565.6 million. This includes the recent purchase of 29 bitcoins for over $2.7 million, which aligns with the country's aggressive bitcoin strategy despite concerns from the International Monetary Fund (IMF).
The financial regulator recently approved a $1.4 billion financing deal tied to several bitcoin-related concessions. However, Herbert insists that bitcoin will remain legal tender alongside the US dollar and that the government will continue to add to its strategic reserves.
