El Salvador Official: Bitcoin Purchases to be Accelerated as Strategic Reserve, Official Bitcoin Wallet Chivo to be Sold or Discontinued

Dec. 19 (Bloomberg) -- The director of El Salvador's bitcoin office has reportedly said that the official bitcoin wallet, Chivo, will be sold or discontinued following an agreement with the International Monetary Fund. He also said that Bitcoin will continue to be El Salvador's legal tender and that El Salvador will continue to buy Bitcoin, possibly at a faster rate, for its strategic reserves.

In previous news , El Salvador reached a $1.4 billion loan agreement with the IMF, and bitcoin payments will be made voluntary instead.

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