The office of Paraguayan President Santiago Peña appeared to deny a post on the social media platform X that announced the country would begin recognizing Bitcoin as legal tender.
In a Monday post on X, the official account of the office of Paraguay’s president asked followers to “dismiss any recently published content” without official confirmation from his office.
The post was made minutes after Peña’s personal account on X announced (in English) that Paraguay had made Bitcoin (BTC) legal tender, and established a BTC reserve worth $5 million, also providing a wallet address for investors to “secure [their] stake.”
At the time of publication, both X posts were still live on the platform, but the president’s office said it was working with the social media platform to “clarify the situation” and for the public to only consider information issued through official channels.
The X post came as some countries in Central and South America were reportedly considering following El Salvador’s example by adopting Bitcoin as a reserve asset. Pushed by President Nayib Bukele, El Salvador began recognizing cryptocurrency as legal tender in 2021, though 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 further information will be added as it becomes available.
