Clarification on Bitcoin Adoption in Paraguay
The office of President Santiago Peña of Paraguay is attempting to clarify misinformation that emerged from a recent post on the social media platform X.
Official Statement
The presidential office took to X on Monday, urging the public to disregard any news related to Paraguay officially adopting Bitcoin as legal tender unless it is confirmed by official government channels. This statement followed a surprising announcement made by Peña’s personal X account, which claimed that the nation would recognize Bitcoin as legal tender and had set aside a BTC reserve valued at $5 million, even providing a wallet address for investors to engage with the asset.
Communication Breakdown
Both posts from Peña’s account and the official presidential office’s account remained visible on X, highlighting a potential miscommunication. The presidential office stated they are collaborating with the social media platform to clarify the situation. Meanwhile, they emphasized that citizens should rely solely on information disseminated through authoritative sources.
Context and Implications
This incident occurs amid growing interest in Bitcoin as a legal currency in various Central and South American nations, particularly following El Salvador’s pioneering move to embrace the cryptocurrency under the leadership of President Nayib Bukele in 2021. However, El Salvador’s implementation has faced challenges and legal ambiguities, especially after agreements with the International Monetary Fund in late 2024.
“Citizens should rely solely on information disseminated through authoritative sources.”
As developments arise, updates will be provided.
