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Since El Salvador has been four years since the acceptance of Bitcoin, the country is at a intersection. With a BTC reserve of $ 700 million still intact, the experiment has not yet completely failed.
Four years after his daring Bitcoin [BTC] Experiment, El Salvador celebrates the birthday with quieter plans.
The country still has a large BTC reserve of $ 700 million, but the early dreams of reforming worldwide finances have given way to pragmatism.
Under pressure from the IMF, the policy has been reduced, leaving a mix of optimism and unanswered questions about whether the adoption at national level can really endure.
Bitcoin Day in El Salvador
In a post X (formerly Twitter), the Bitcoin office of El Salvador announced that the government now has 6,313 BTC (worth more than $ 700 million in the press).
In addition, the office also announced the launch of a new law that enabled Bitcoin investment banks to serve with “advanced” investors.
Source: X
The function pointed to educational profits, with 80,000 officials certified in Bitcoin, the launch of BTC banks and new public programs that combine the King Coin and AI.
Nevertheless, parties are supplied with a background of the reduced policy, since the government of El Salvador adjusts its Bitcoin ambitions under pressure from the International Monetary Fund (IMF).
IMF -Deal forces a BTC Rethink
As part of their deal with the IMF, The legislators of El Salvador have withdrawn the legal service right of Bitcoin and promised not to buy extra BTC with public funds.
The Agreement also required the return support for the Chivo wallet, which had already seen lukewarm adoption.
An IMF report published in July confirmed that El Salvador has not purchased a new Bitcoin since December 2024, whereby officials repeat in a declaration of intent that the BTC reserves of the country remain unchanged.
Source: IMF
The relocation brought criticism from Bitcoin proponents and NGOs, who claim that the policy benefits the state, but leaving citizens behind.
The four years
Since 2021, the Bitcoin experiment from El Salvador has undergone a cautious evolution.
The government built a BTC reserve of $ 700 million, approval of groundbreaking laws such as digital legislation on investment banking.
They also introduced educational programs that trained tens of thousands – from school children to civil servants.
These steps have reformed the image of the country from a Bitcoin pioneer with global visibility ravaged by debts. At the same time forced IMF pressure policy canse.
Four years later, the Bitcoin story from El Salvador is a test case that still unfolds … on the world stage.