The country continues to acquire more Bitcoin for its strategic reserve and has embraced technical innovation to fuel economic growth. 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'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. Read more
A crypto analyst says Bitcoin is on its way to $160,000 or a “crazy number,” Alex Mashinsky gets 12 years jail, and more: Hodler’s Digest The US federal court for the Southern District of New York has sentenced former Celsius CEO Alex Mashinsky to 12 years in prison for fraud. Mashinskys legal team sought a light sentence. They highlighted his spotless record before the Celsius incident, along with his military service and willingness to plead guilty. But US prosecutors were less inclined to leniency, suggesting on April 28 that the judge deliver a 20-year sentence for his actions. Betting markets predicted a light sentence ahead of the May 8 hearing. Polymarket showed only 11% odds for a 20-year sentence or higher. Read more
The BSV network has faced numerous delistings, 51% attacks, and a long-term price decline as the altcoin struggles to gain traction. Investors of Bitcoin Satoshi's Vision (BSV) — 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 "loss of chance" 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's 2019 delisting of BSV and similar major exchange delistings are the primary drivers of BSV's long-term price decline and its failure to attract the investor attention enjoyed by Bitcoin. Read more