How a fake tweet from Paraguay pushed Bitcoin to $110K

A fake post from the Paraguayan president’s X account claimed Bitcoin was now legal tender, triggering a sharp 4% price spike.

At around 00:53 GMT on June 10, 2025, the verified X account of Paraguayan President Santiago Peña posted something that set the crypto world buzzing.

The now-deleted tweet stated that Paraguay had officially approved Bitcoin as legal tender. It added that President Peña had signed into law a $5 million Bitcoin (BTC) reserve and bond access for crypto-enabled citizens. It also contained a wallet address prompting users to stake BTC.

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