由经济学家

在最近的市场下降中，埃尔·萨尔瓦多（El Salvador）在与国际货币基金组织（IMF）达成了14亿美元的贷款救助协议之后，分别于2月25日和3月4日增加了7和5 BTC。

El Salvador is on the brink of default. It has been able to defer a $1.4 billion bailout from the International Monetary Fund, which is now in its 40th month of disbursement.

埃尔·萨尔瓦多（El Salvador）处于默认的边缘。它已经能够从国际货币基金组织中推迟14亿美元的纾困，该基金现在已在其第40个月的支出中。

The Central American nation also faces regulatory restrictions from the IMF on the current state of cryptocurrencies in the country.

中美洲国家还面临国际货币基金组织目前对该国加密货币现状的监管限制。

Recently, Apex GMAT Quantitative announced that El Salvador completed a 7 BTC purchase on February 25 and a 5 BTC purchase on March 4. These purchases followed the IMF's approval of a $1.4 billion loan bailout to El Salvador on December 14.

最近，Apex GMAT定量宣布，El Salvador于2月25日完成了7 BTC的购买，并于3月4日完成了5 BTC的购买。这些购买是在国际货币基金组织批准了12月14日向El Salvador提供14亿美元贷款的贷款。

According to the terms of the bailout, the IMF will be closely monitoring El Salvador's progress in reducing its fiscal deficit and implementing structural reforms. The IMF has also expressed concerns about the risks associated with El Salvador's cryptocurrency program.

根据救助的条款，国际货币基金组织将密切监视萨尔瓦多在减少其财政赤字和实施结构改革方面的进步。国际货币基金组织还对与萨尔瓦多的加密货币计划相关的风险表示担忧。

El Salvador began investing in BTC in 2021, President Nayib Bukele has been a vocal supporter of cryptocurrencies and has vowed to use them to help El Salvador overcome poverty and inequality.

埃尔·萨尔瓦多（El Salvador）于2021年开始投资BTC，总统纳伊布·布克勒（Nayib Bukele）一直是加密货币的声音支持者，并发誓要使用它们来帮助萨尔瓦多克服贫困和不平等。

However, the IMF has argued that these investments are too risky for a country in El Salvador's economic condition. The lender also stated that it will be including new advice on cryptocurrencies in its programs in 2024.

但是，国际货币基金组织认为，对于一个萨尔瓦多经济状况的一个国家来说，这些投资太冒险了。贷方还表示，它将在2024年的计划中包括有关加密货币的新建议。

El Salvador started buying Bitcoin (BTC) again after reaching a $1.4 billion loan agreement with the International Monetary Fund (IMF).

与国际货币基金组织（IMF）达成14亿美元的贷款协议后，埃尔·萨尔瓦多（El Salvador）再次开始购买比特币（BTC）。

According to data from Apex GMAT Quantitative, El Salvador completed a 7 BTC purchase on February 25 and a 5 BTC purchase on March 4. These purchases followed the IMF's approval of a $1.4 billion loan bailout to El Salvador on December 14.

根据Apex GMAT定量的数据，El Salvador于2月25日完成了7 BTC的购买，并于3月4日完成了5 BTC的购买。这些购买后IMF批准了12月14日向El Salvador提供14亿美元的贷款。

The lender will be closely monitoring El Salvador's progress in reducing its fiscal deficit and implementing structural reforms. According to the terms of the bailout, El Salvador will also need to restrict "Bitcoin transactions and purchases."

贷方将密切监视萨尔瓦多在减少其财政赤字和实施结构改革方面的进展。根据救助的条款，萨尔瓦多还需要限制“比特币交易和购买”。

However, despite this stipulation, El Salvador has continued to add to its BTC holdings. The country now holds 6,100 Bitcoins, which are currently valued at over $500 million. At the time of the last purchase on March 4, the total realized profit on these coins was approximately $200 million.

但是，尽管有这样的规定，但萨尔瓦多仍在增加其BTC持有量。该国现在拥有6,100个比特币，目前价值超过5亿美元。在3月4日上次购买时，这些硬币的总利润约为2亿美元。

El Salvador began investing in BTC in 2021, President Nayib Bukele has been a vocal supporter of cryptocurrencies and has vowed to use them to help El Salvador overcome poverty and inequality. However, the IMF has argued that these investments are too risky for a country in El Salvador's economic condition.

埃尔·萨尔瓦多（El Salvador）于2021年开始投资BTC，总统纳伊布·布克勒（Nayib Bukele）一直是加密货币的声音支持者，并发誓要使用它们来帮助萨尔瓦多克服贫困和不平等。但是，国际货币基金组织认为，对于一个萨尔瓦多经济状况的一个国家来说，这些投资太冒险了。

Earlier this year, the lender stated that it will be including new advice on cryptocurrencies in its programs in 2024. The goal is to provide guidance to countries on how to manage the risks and opportunities associated with crypto assets.

贷方今年早些时候表示，它将在2024年的计划中包括有关加密货币的新建议。目标是向国家提供有关如何管理与加密资产相关的风险和机会的指导。

Recently, Bukele's unique leadership style and unconventional economic policies have sparked debate and scrutiny. While some admire his bold vision and populist appeal, others criticize his disregard for democratic institutions and the press.

最近，布克勒的独特领导风格和非常规的经济政策引发了辩论和审查。有些人欣赏他大胆的愿景和民粹主义的吸引力，而另一些人则批评他无视民主机构和新闻界。

Moreover, rating agency Moody's highlighted that El Salvador spent a total of $375 million on crypto experiments - including the launch of Chivo, subsidized transaction fees, Bitcoin ATMs, etc., which far exceeds the profits of its current Bitcoin holdings, and these profits are still likely to decrease as Bitcoin falls.

此外，评级机构穆迪（Moody）强调说，萨尔瓦多（El Salvador）总共花费了3.75亿美元进行加密实验 - 包括推出CHIVO，补贴交易费用，比特币ATM等，这远远超过了当前比特币持有的利润，这些利润仍然可能减少，因为比特币跌倒了。

Bukele's crypto experiment also delayed El Salvador's loan agreement with the IMF, leaving El Salvador's risk premium high and his country on the verge of debt default.

布克勒的加密实验还推迟了萨尔瓦多与国际货币基金组织达成的贷款协议，使萨尔瓦多的风险溢价及其国家处于债务违约的边缘。

However, it is still too early to say what the long-term impact of Bukele's crypto strategy will be. Only time will tell whether his bold bets will pay off or backfire.

但是，现在说布克勒加密战略的长期影响还为时过早。只有时间才能说明他的大胆赌注是否会得到回报或适得其反。