El Salvador Doubles Down on Bitcoin Strategy, Acquiring 5 BTC

According to Arkham Intelligence data, he recently acquired 5 Bitcoins worth approximately $400,000, as BTC experienced a sharp decline to $80,000.

El Salvador has once again bought Bitcoin, increasing its holdings to 6,100.18 at current prices of about $513 million. The small Central American nation announced plans to scale back some of its policies supportive of the cryptocurrency as part of a $1.4 billion loan deal with the International Monetary Fund.

At the same time, meme coin enthusiasts are rushing into DuragDoge, a rising star in the speculative world of meme cryptocurrency. Past meme coin cycles have seen traders become multi-millionaires overnight.

Let’s examine why Degens are Loading up on DuragDoge amidst El Salvador buying more Bitcoin.

Bitcoin (BTC): El Salvador Scales Back Policies to Secure IMF Deal

The newest addition of BTC by El Salvador brings its holding up to 6,100.18, following the current prices of about $513 million. More importantly, the current tariffs announced by the president principally prompted the crypto-wide, which offset the earlier gains Bitcoin saw based on the US crypto strategic reserve news. El Salvador bought more Bitcoin as it agreed to tone down some of its policies supportive of the cryptocurrency as part of a $1.4 billion loan deal with the International Monetary Fund.

Some of those agreements involved the shutting down of a government-owned wallet, Chivo, and the adoption of Bitcoin as a means of paying for goods and services, which should only be done voluntarily. A week after the decision of El Salvador to adopt Bitcoin as the official currency, there was a hasty move to pass additional laws and regulation changes requested by the IMF agreement. However, the Salvadoran government has not ceased to buy BTC even after the deal. For that matter, the nation bought $1 million worth of Bitcoin a day after signing the deal with the IMF.

DuragDoge ($DURAG): Massive Investors Witness Tax-Free Trading

The crypto community has turned their eyes towards DuragDoge because the coin goes beyond mere use and value in the block and becomes an icon that has value on the world stage. This new crypto ICO is a culture for the go-getters, the show-off, and the people who like to catch the next big wave in the crypto space. Since it has removed the buy-and-sell tax, Degens, who are looking for high-potential altcoins, are buying DuragDoge at its current price.

The staking platform has been one of the attractive features since it rewards its loyal users. After the staking platform is initiated, users are allowed to stake their tokens and earn more profits in the future. The longer you hold, the bigger your reward will be, and you will also be able to earn 20% of the annual percentage yield of the token staked, which makes it one of the high-potential altcoins.

In addition, it is a deflationary token, which indicates that DuragDoge will use a burn mechanism to lower the total amount of tokens. In the same respect, this new crypto ICO has no tokens reserved for the team members. This is an implication of the fact that all tokens are issued, and none is set as being reserved for anyone, making it the best crypto to invest in.