The government of El Salvador continues stacking Bitcoin (BTC) for its 
national crypto reserve, despite an ongoing deal with the International 
Monetary Fund (IMF) stipulating that the Central American country stop using 
public funds to purchase Bitcoin as one of the conditions for a loan 
agreement.
According to data from the El Salvador Bitcoin Office, the country acquired an 
additional seven BTC in the last seven days, bringing its total holdings to 
6,173 BTC, valued at over $637 million.
El Salvador&#8217;s Bitcoin Office has continued its steady pace of Bitcoin 
acquisitions months after the IMF agreement was signed and shows no sign of 
halting its Bitcoin purchases.
The Central American country is one of the only nations actively purchasing 
Bitcoin in open market operations, and its national Bitcoin treasury strategy 
will serve as a blueprint for other countries also considering Bitcoin 
strategic reserves, according to crypto industry executives.
_El Salvador &#8216;s Bitcoin holdings and acquisitions since March 13. Source: __El 
Salvador Bitcoin Office_
 _**Related:**__**El Salvador works with Nvidia to develop sovereign AI 
infrastructure**_
## El Salvador remains defiant against IMF pressure
El Salvador signed a $1.4 billion loan agreement with the IMF in December 
2024. As part of that agreement, the government of the country agreed to 
rescind its Bitcoin legal tender law and make Bitcoin payments voluntary.
The agreement also stipulated that El Salvador must scale back its Bitcoin 
accumulation, refraining from using public funds to finance Bitcoin purchases.
Additionally, the deal required the government privatize the Chivo Wallet, 
which was publicly funded but saw little use among residents.
In January 2025, lawmakers in the Central American country repealed the 
Bitcoin legal tender law in a 55-2 Congressional vote, although this did 
nothing to pause or slow Bitcoin acquisitions.
The IMF issued another request to the country to halt Bitcoin buys in March 
2025, reiterating the original terms of the agreement. However, El Salvador&#8217;s 
President Nayib Bukele pushed back against the requests.
Bukele emphasized that the country would not stop its Bitcoin purchases or 
slow down its accumulation of BTC in the face of mounting pressure from the 
supranational financial institution.
&#8220;No, it&#8217;s not stopping. If it didn&#8217;t stop when the world ostracized us and 
most &#8216;Bitcoiners&#8217; abandoned us, it won&#8217;t stop now, and it won&#8217;t stop in the 
future,&#8221; Bukele wrote in a March 4 X post.
_**Magazine:**__**El Salvador &#8216;s national Bitcoin chief has been orange- 
pilling Argentina**_

El Salvador stacks 7 Bitcoin in last week, despite IMF deal

A new study by the Bank for International Settlements reveals cross-border 
crypto asset flows surged to $2.6 trillion in 2021, with stablecoins and 
emerging markets reshaping global financial networks. High Inflation Spurs 
Bitcoin and Stablecoin Adoption in Emerging Markets, BIS Research Reveals The 
latest Bank for International Settlements (BIS) working paper #1265 reveals 
cross-border crypto […]

BIS Study Shows Low-Value Bitcoin Transfers Reshape Remittances Amid High Traditional Costs

Ethereum prices have surged by over 19% in the past day, reaching almost 
$2,500 as a general crypto market resurgence continues. Amidst investors&#8217; 
euphoria, prominent crypto analyst and OKC Partner Ted Pillows has tipped the 
prominent altcoin to sustain its bullish form, reaching a market price of 
$12,000 in 2025. Related Reading: Ethereum Stuck Between Retail Sell-Off And 
Whale Accumulation, Analyst Explains Institutional Adoption, DeFi Status To 
Drive Ethereum Market, Among Others In an X post on May 9, Ted Pillows 
provided some valuable insights into the bullish potential of the Ethereum 
market. The angel investor and KOL stated there are five reasons ETH investors 
should be expecting profits of about 600% before 2025 runs out. Firstly, 
Pillows has hinted that Ethereum is likely to experience the highest level of 
institutional adoption among altcoins. Amidst a pro-crypto US government and 
the growing chances of a digital asset regulatory framework, institutional 
investors are likely to start diversifying their capital to other 
cryptocurrencies aside from Bitcoin. As seen with the spot exchange-traded 
funds (ETFs), Ethereum ranks high ahead of other altcoins for portfolio 
additions, considering its position as the second-largest cryptocurrency with 
a 7.24% market share, and an extensive smart contract application. In 
particular, Ted Pillows emphasizes Ethereum’s dominance in smart contract 
programmability as another reason for investors to be highly bullish. 
According to DefiLlama, the Ethereum blockchain currently holds 80.17% of RWA, 
51.01% of circulating stablecoins, and 53.29% of total value locked (TVL) in 
DeFi, indicating much potential for network adoption and price growth amidst a 
crypto bull market. Another possible market trigger highlighted by Ted Pillows 
centers on the potential introduction of Ethereum ETF staking. Deadlines for 
the SEC’s decision on the proposed staking option lie in late May &amp; late 
August. However, Bloomberg analyst James Seyfart has indicated there is much 
potential for the Commission to wait till the final deadline in October, as 
seen with the ETH options trading. The introduction of staking is likely to 
drive inflows into the Ethereum ETFs as it provides an additional means of 
income for investors. Staking would allow ETFs custodians to lock up ETH on 
the Ethereum network to serve as a validator for a defined period and earn a 
commission in return. Token Burn Post-Pectra Upgrade Signals Good Times Ahead 
Among other potential bullish drivers, Ted Pillows also points to the high 
level of ETH Burn following the launch of the Pectra network upgrade on May 7. 
A high burn rate indicates rising scarcity, which is always good for the 
market price appreciation. Finally, Ted Pillows hints at the growing potential 
of a risk-on environment later in 2025 as the US Federal Reserve is expected 
to cut interest rates and begin quantitative easing, which would encourage 
investments in volatile assets such as cryptocurrencies. At press time, 
Ethereum continues to trade at $2,334 following a slight market retracement in 
the last few hours. Notably, the asset’s trading volume is up by 62.81% and 
valued at $49.85 billion. Related Reading: Sovereigns Are Buying Billions Of 
Bitcoin, Says Anthony Scaramucci Featured image from Pexels, chart from 
Tradingview

Here Are 5 Reasons Ethereum May Reach $12,000 In 2025 – Analyst

As trade war headlines faded into the background last week, markets 
exhaled—and bitcoin broke above $97,000. Meanwhile, Token2049 Dubai offered 
both spectacle and substance. This editorial is from last week’s edition of 
the Week in Review newsletter. Subscribe to the weekly newsletter to get the 
editorial the second it’s finished. Bitcoin and Token2049 Dubai Bitcoin […]

Zipline to the Moon!

Investors of Bitcoin Satoshi&#8217;s Vision (BSV) &#8212; a hard fork of Bitcoin Cash 
(BCH), which itself is a hard fork of the Bitcoin (BTC) protocol, are 
attempting to revive a 2019 lawsuit against crypto exchange Binance for 
delisting the altcoin, which the litigants claim stunted the price of BSV. 
According to Law360, attorneys for the plaintiffs argued that a July 2024 
decision from the UK Competition Appeal Tribunal dismissing the &#8220;loss of 
chance&#8221; claim made against Binance for delisting the token, should be 
reconsidered. The litigants demanded $9 billion in damages, in the original 
case.
The investors continue to claim that Binance&#8217;s 2019 delisting of BSV and 
similar major exchange delistings are the primary drivers of BSV&#8217;s long-term 
price decline and its failure to attract the investor attention enjoyed by 
Bitcoin.
_BSV has been in a long-term price decline and has failed to capture investor 
attention. Source:__TradingView_
If the coalition of BSV investors manages to push through their legal argument 
and win in court, they could seek up to 10 billion British pounds (GBP), or 
roughly $13 billion, in damages from the exchange.
The price of BSV surged by approximately 15% following the news and is 
currently trading at around $42. However, the altcoin remains in a long-term 
downtrend and has failed to capture the vast majority of the economic or 
computing power from the Bitcoin network.
_**Related:**__**Nike sued for $5 million over its shutdown of NFT platform 
RTFKT**_
## Binance delists BSV due to founder Craig Wright&#8217;s behavior
Binance delisted BSV in April 2019 after announcing that the token failed to 
meet its listing standards due to the actions of BSV creator Craig Wright, who 
is infamous in the crypto world for falsely asserting that he is Bitcoin 
creator Satoshi Nakamoto.
Former CEO of the Binance exchange, Changpeng Zhao warned BSV of an impending 
delisting if Wright continued to make the claims that he was Bitcoin&#8217;s 
pseudonymous creator.
Since that time, BSV has suffered several 51% attacks, a type of exploit where 
malicious nodes control a majority of the computing power on the network and 
can double-spend funds &#8212; removing one of the core mechanisms that make 
digital currencies valuable.
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Cryptocurrency price in ARS