“The reform eliminated the word “currency” when referring to bitcoin, but says it is “legal tender.””
so they haven’t abandoned Bitcoin as legal tender.
what with Bitcoin specifically being referred to as “legal tender” in salvadoran financial law.
it’s simply not mandated to be accepted everywhere anymore, as it was before.
Didn’t they double or triple their trade?
The IMF gave El Salvador mucho dineros to abandon Bitcoin because the IMF wants the USD to be the global currency
In December, the government struck a $1.4 billion loan deal with the International Monetary Fund (IMF) that scaled back its bitcoin embrace after the lender urged officials to limit its exposure. The lender specifically advocated making acceptance of bitcoin voluntary for the private sector, which is spelled out in the hastily-approved law.
Sounds more like they’re “abandoning” it by selling for a huge profit
Yeah but one of the goal was to replace daily use of USD by bitcoin this is the part they are stopping apparently. It seems they will continue to have it as a reserve.
Dumbest shit I ever heard. Bitcoins transaction fees have been so fucking high since well before this happened that it is impossible to use it as reasonable currency. Even Eth has some high tx fees nowadays - something intended for daily use shouldn’t cost whole dollars per transfer.
