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A 44-Nation Bitcoin Gathering in El Salvador May Draw IMF Ire

5
Bob Mason
·3 min read

Key Insights:

  • El Salvador continues to grab the crypto news headlines, with President Nayib Bukele driving bitcoin adoption at a national level.

  • Earlier this year, the International Monetary Fund (IMF) and rating agencies vocalized their views on El Salvador making bitcoin legal tender.

  • This week, Bukele announced a 44-nation bitcoin gathering that could draw further comment from the IMF.

Last September, El Salvador became the first nation to make bitcoin (BTC) legal tender. The news raised concerns among rating agencies, the International Monetary Fund (IMF), and even US lawmakers.

Since then, El Salvador President Nayib Bukele has taken bigger strides into the bitcoin space.

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In March, El Salvador planned to launch Bitcoin bonds before having to delay the launch further. Bukele intended to use proceeds from the bond sales to purchase more bitcoin and fund a ‘Bitcoin City.’

This week, Bukele was back in the news, announcing a bitcoin gathering in El Salvador.

El Salvador to Host a 44-Nation Bitcoin Gathering Today

Over the weekend, President Bukele announced a 44-nation gathering in El Salvador to discuss several hot topics, with bitcoin among them.

Nayib Bukele took to Twitter, saying,

“Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout, and its benefits in our country.”

The President then went on to list the attendees, including central banks across Latin America, Asia, and Africa.

Last month, Central African Republic lawmakers voted in favor of legalizing crypto and considering bitcoin as legal tender.

The number of nations attending will draw plenty of interest, particularly with agencies such as the IMF.

IMF Likely to Sound Alarm Bell Over 44 Nation Bitcoin Gathering