Paraguayan President Santiago Peña’s office appeared to deny a post on social media platform X that announced that it would begin to recognize Bitcoin as fiat currency.
In X’s Monday post, the official Paraguay presidential office account asked its followers to “dead recently published content” without official confirmation from his office.
The post comes minutes after Peña’s personal account on X was announced (in English) and Paraguay made Bitcoin (BTC) the legal currency, establishing a BTC reserve worth $5 million, and providing investors with a wallet address to “securing (their) shares.”
At the time of publication, both X posts still lived on the platform, but the president’s office said it was considering working with social media platforms to “clear the situation” and that the public would only consider information published through official channels.
X Post reportedly follows the El Salvador example by adopting Bitcoin as a reserve asset. El Salvador, promoted by President Naive Buquere, began accepting cryptocurrencies as fiat currency in 2021, but its status is somewhat of a legal gray area after a deal with the International Monetary Fund announced in December 2024.
This is a developing story, and more information will be added as it becomes available.
