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World's first Bitcoin nation scales back crypto dream
In 2021, El Salvador became the first country in the world to make bitcoin acceptance mandatory.
El Salvador has struck a $1.4bn (£1.1bn) loan deal with the International Monetary Fund (IMF) after agreeing to scale back its controversial bitcoin policies. Earlier this month, as the price of bitcoin topped $100,000 for the first time, Mr Bukele said in a social media post that his country's holdings in the cryptocurrency had more than doubled in value. On Thursday, the cryptocurrency retreated along with global stock markets after the US Federal Reserve signalled a slower pace of interest rate cuts next year.
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