El Salvador Doubles Down on Bitcoin Despite IMF Warnings

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📈 Preview On Today’s News:

1. - El Salvador Doubles Down on Bitcoin Despite IMF Warnings

2. - Charles Hoskinson Unaware of ADA’s Inclusion in Trump’s Crypto Reserve

3. - New Hampshire Bitcoin Reserve Bill Advances with Strong Support 

Keep reading below for more!

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Today’s News:

1)

El Salvador Doubles Down on Bitcoin Despite IMF Warnings

El Salvador continues its Bitcoin acquisition strategy, increasing its holdings to 6,101 BTC, now valued at nearly $510 million, despite repeated warnings from the International Monetary Fund (IMF). The IMF has urged the country to halt its Bitcoin purchases, liquidate the Fidebitcoin trust fund by July 2025, and discontinue the state-backed Chivo wallet, citing risks to financial stability. However, President Nayib Bukele remains firm in his commitment to Bitcoin, dismissing the IMF’s concerns and reiterating that the nation’s investment approach will remain unchanged.

• El Salvador’s Bitcoin holdings have reached 6,101 BTC ($510M), despite IMF warnings to halt purchases and liquidate related assets.

• President Nayib Bukele reaffirmed his commitment to Bitcoin, rejecting IMF concerns and maintaining the country’s long-term crypto investment strategy.

2)

Charles Hoskinson Unaware of ADA’s Inclusion in Trump’s Crypto Reserve

Cardano founder Charles Hoskinson revealed that he was unaware of ADA’s selection for former U.S. President Donald Trump’s proposed crypto reserve until the announcement was made on March 2. Hoskinson stated he had no prior discussions with officials regarding the inclusion and only learned of it after receiving numerous congratulatory messages. Trump’s proposal, which includes Bitcoin (BTC), Ether (ETH), XRP, Solana (SOL), and Cardano (ADA), sparked debate in the crypto community, with ADA surging 76% before experiencing a sharp decline. Additionally, Hoskinson noted that neither he nor Cardano representatives were invited to the upcoming White House crypto roundtable on March 7, emphasizing the need for broader industry collaboration on regulatory policies rather than viewing such events as popularity contests.

• Hoskinson was unaware of ADA’s inclusion in Trump’s proposed crypto reserve and had no discussions with officials before the announcement.

• The proposal caused ADA to surge 76% before a sharp decline, while Hoskinson criticized the lack of broader industry involvement in regulatory discussions.

3)

New Hampshire Bitcoin Reserve Bill Advances with Strong Support 

New Hampshire’s House Bill 302 (HB302), which proposes the creation of a Bitcoin reserve for the state, has passed the House committee with a decisive 16-1 vote. The bill aims to integrate Bitcoin into the state’s financial reserves, positioning New Hampshire as a leader in crypto-friendly legislation. Advocates argue that holding Bitcoin could provide financial diversification and potential long-term benefits, while critics raise concerns over its volatility and regulatory risks. If enacted, the bill could set a precedent for other states considering similar measures.

• HB302, proposing a state Bitcoin reserve, passed the House committee with strong bipartisan support (16-1), signaling New Hampshire’s potential leadership in crypto adoption.

• Supporters highlight financial diversification and potential gains, while critics warn of Bitcoin’s volatility and regulatory uncertainties as the bill moves forward in the legislative process.

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