El Salvador signs record $2.9B investment deal with no bitcoin involved
- —$1.8B for a 380 MW gas import and storage terminal, $600M for water and sanitation
- —Cox adds $300M for 440 MW of battery storage and $200M for solar plants
- —El Salvador's bitcoin reserve stands at 7,803 BTC, about $655M — four times smaller than the deal
- —The IMF approved a $138M disbursement on October 1, waiving a missed bitcoin accumulation criterion
Why it matters: The first country to adopt bitcoin as legal tender is pivoting toward conventional infrastructure and IMF compliance, a symbolic shift for the asset's sovereign adoption narrative.
Source: Journal du Coin