irisj3588

@irisj3588

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During the US elections in November, betting platforms proved more accurate than traditional polling, forecasting not only Trump’s win but also his party’s sweep of the US House and Senate.

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Eric Council Jr., the individual who allegedly hacked the United States Securities and Exchange Commission’s X account in January and posted a message suggesting that Bitcoin exchange-traded funds (ETFs) had been approved, will be allowed to travel for the holidays.

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However, an October survey of Salvadorans found that 92% don’t make transactions using Bitcoin, an increase from a 2023 survey that found 88% didn’t use Bitcoin for transactions.

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“Bitcoin use in El Salvador was always voluntary and its usage has never been higher and continues to grow,” Keiser said in another X post. “The IMF’s point is DOA [dead on arrival].”

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In reaction to the IMF’s announcement, Bukele’s Bitcoin adviser Max Keiser said on X of the IMF that “nobody pays attention to these assh****” and called the agreement “bureaucratic, meaningless, nonsense.”

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The IMF has long called on Bukele to drop its Bitcoin plans, saying the speculative nature of the cryptocurrency could put the country at risk.

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“We will keep buying one Bitcoin a day (likely even more in the future), and we will not sell any of our current holdings,” said the spokesperson, who added: “The plans for the Bitcoin Office remain the same as Bitcoin continues to be our main strategy.”

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A National Bitcoin Office spokesperson told Cointelegraph that the country “will keep accumulating Bitcoin.”

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El Salvador began buying Bitcoin in 2021 with the country’s National Bitcoin Office’s tracker showing it currently holds 5,968.8 Bitcoin, worth about $602 million.

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IMF also said taxes will be paid in US dollars — the country’s official currency — and government involvement in the state-backed crypto wallet Chivo “will be gradually unwound.”

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“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 said.

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Carbone also took aim at her crypto-critical stance in a Dec. 11 letter sent to Brown and Republican Senator Tim Scott.

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“She tried to block the Bitcoin ETFs and was worse than Gensler on some issues (which I didn’t think was possible),” Armstrong said. “The Senate Banking Committee should take note - the crypto community is watching this vote.”

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On Dec. 5, Cointelegraph reported that the year had seen more than $31 billion in net inflows from the spot Bitcoin exchange-traded funds in the United States, along with tightened supply from Bitcoin’s fourth halving in April.

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After Bitcoin reached an all-time high of $73,679 in March, it consolidated within a wide range of $53,000 and $72,000 for the next seven months.

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“While we don’t see this as the end of the Bitcoin bull run, it does signal we are entering a consolidation phase in the days/weeks ahead,” Sycamore said in a Dec. 5 X post.

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IG market analyst Tony Sycamore said the sharp retrace could mean Bitcoin’s price plateauing in the short term.

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Bitcoin’s market capitalization was $1.92 trillion at the time of publication. It came only a day after Bitcoin breached the $100,000 price level for the first time and reached an all-time high of about $104,000.

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“It took Bitcoin 3 minutes to drop ~10% which equals to ~200B drop. 180 seconds. 200 Billion dollars lower,” Smiley Capital said.

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