A post on the X platform from the President of Paraguay, Santiago Peña, stirred up the cryptoasset community by declaring that the country recognizes Bitcoin as legal tender. This information immediately agitated investors, traders, and market observation nodes, creating a strong propagation on global cryptoasset forums and groups.
However, shortly after, the official account of the Paraguayan Government issued a notice requesting users to "reject all previously published content". This move cast doubt on the accuracy of the information, increasing the level of FUD - factors that always impact the volatility of digital assets.
The event shows that Paraguay has not yet made an official decision about legalizing Bitcoin as a payment method. Although the initial information came from a credible channel with high legal implications, the quick response from authorities indicates that the policy-making process related to cryptoassets in this country still has many shortcomings, and even potential risks of misinformation.
Traders, miners, and investment organizations should carefully consider before making market entry decisions based on unverified speculative signals. The spread of unverified news on social platforms can significantly impact market psychology, affecting Bitcoin and other cryptoasset prices.
Through this incident, the Paraguayan Government also sends a message about information control and media management in the cryptoasset space - an area traditionally simmering with shocking news daily. Investors need to closely follow official information sources before engaging in trading or implementing DeFi, staking strategies in this market.
In summary, Paraguay has not recognized Bitcoin as legal tender despite a statement from the President's personal account, which was quickly rejected by the national government. The event is clear evidence of the volatility and sensitivity of the cryptoasset market to policy indicators, while also warning about fake news risks in the digital era.
