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John Dennehy, from my first bitcoin, questioned the delays in Bitcoin’s daily purchases.
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To date, El Salvador accumulates 6,088 BTC, valued at more than 572 million dollars.
El Salvador resumed the acquisitions of Bitcoin (BTC), after a week without purchases. The country added 8 BTC to its reservation, an investment of 751,664 dollars at the current market price.
President Nayib Bukele announced the operation on social networks. “Oh you, men of little faith! …” He wrote, citing a biblical passage. With this message, Bukele responded to generated skepticism for the absence of daily purchases of the most valuable digital currency in the world for seven days.
The acquisition elevates El Salvador reserves to 6,088 bitcoin. This is equivalent to more than 572 million dollars, according to the current value. The country maintains its Bitcoin purchase strategy, started in 2022. However, the recent pause marked the longest period without acquisitions since the program began, as reported by cryptoics earlier.
Before this drought, at the end of January and the beginning of February, There were also delays in BTC purchases.
Bukele’s message indicates that Bitcoiner policy is still active. However, John Dennehy, leader of my first Bitcoin, reacted to the announcement: “Why do Bitcoin purchases have become sporadic for approximately a month?” He questioned. Then he added: “This seems to be in line with other changes associated with the project according to the IMF.” His words reflect doubts about the consistency of the program.
He also investigated if changes in BTC purchases could be linked to the agreement with the IMF, which led to adjustments in the Bitcoin Law. Dennehy, in addition, pressed for clarity: «Are new purchases or only transfers from existing wallets, such as those of the La Libertad Passport program? How many Bitcoins does El Salvador in reserve that we do not know publicly?
The leader of my first bitcoin stressed that Transparent communication would be key to dissipating the doubts of the Bitcoin community that observes carefully every movement of El Salvador with the pioneer digital currency.
El Salvador and the International Monetary Fund (IMF) agreed a loan of 1.4 billion dollars recently. The pact seeks to stabilize the country’s public finances. Includes economic reforms and tax adjustments. There are those who believe that this could limit the flexibility of Bitcoiner policy.
And, in the past, the IMF has expressed concern about the risks of using bitcoin as legal tender. The agreement does not prohibit BTC purchases, but requires greater transparency and control of public spending. In addition, it urges to eliminate the obligation of the use of BTC and turn it into a volunteer. These changes are reflected in the new version of the Bitcoin Law, which is about to enter into force.
Bitcoin’s purchases began in 2022. Since then, the Government has acquired BTC on a regular basis. In 2022, Bukele promoted a daily purchase plan of a Bitcoin. The initiative sought to take advantage of market falls. However, Recent interruptions have fed criticism and speculation.
Dennehy was not the only one to react. Michael Saylor, president of Strategy – known as Microstrategy – showed support. “I have faith,” he wrote on social networks. Your comment supports Bukele’s vision. Strategy is known for its massive bet in Bitcoin, with reservations that exceed 450,000 BTC.
The one -week pause generated debate among detractors and followers. Some see delays as an adjustment signal by the agreement with the IMF. Others believe that the government maintains its commitment to BTC. The purchase of 8 bitcoin seems to confirm the latter.