El Salvador's BTC holdings down $300M amid price decline

The value of El Salvador's Bitcoin holdings has fallen by approximately $300 million amid the cryptocurrency's price decline, Walter Bloomberg reported. The situation highlights the risks associated with President Nayib Bukele's crypto investment strategy and is creating anxiety in the country's bond market, the report added. Despite these losses, El Salvador continues to buy Bitcoin, a move that is complicating negotiations for a $1.4 billion loan from the International Monetary Fund (IMF). Analysts have warned that the country's persistent crypto purchases, coupled with delays in pension reform, could jeopardize the IMF's support.