The Bitcoin trip from El Salvador is confronted with new doubts. The government says it still buys BTC every day, but the IMF does not agree. This raises questions about how much bitcoin really helps and whether the original crypto vision of the country is starting to fade.
The local population still uses BTC in Berlin
In the Bergstad Berlin, El Salvador, the locals use Bitcoin Daily, act goods such as coffee and benefit from the rising price. El Salvador did Bitcoin legal tender in 2021, but under an IMF deal from 2024, its use became optional and limited for the use of the government.
Does Bitcoin policy help people?
The Bitcoin strategy from El Salvador stands for new challenges, says Quentin Ehrenmann from NGO My first bitcoin. He said Reuters that Bitcoin lost its status for legal dispute after the IMF deal and the government stopped stimulating public education or adoption efforts. While the government continues to add to its Bitcoin reserves, he states that this will benefit the state more than ordinary people.
The government says ‘we are still buying’, IMF does not agree
The government is committed 6,249 BTC Waard more than $ 738 million, but a 2024 survey showed that 80% of Salvadorans feel that Bitcoin has not improved their finances. El Salvador agreed not to buy Bitcoin under the IMF deal. This clashes with statements from the country’s own Bitcoin office, which claims that BTC is still being purchased daily.
The Bitcoin office of the country confirmed on July 24 that it bought 8 more BTC worth around $ 948,000. But a recent IMF statement claims that the country has not made any purchases.
The IMF claims that the country has moved coins between portfolios and has not actually bought more BTC. These internal transfers, the IMF says, create the illusion of new purchases, although the total Bitcoin kept the same. They also pointed out that the national Bitcoin wallet system of El Salvador does not always show accurate, real-time data, which contributes to the confusion.
Bitcoin -doubts grow in El Salvador
John Dennehy Also called recent wallet activity ‘misleading’, saying that it is just internal movement dressed as new purchases. However, the government did not respond to the IMF’s criticism and is aimed at its larger Bitcoin goals.
El Salvador has reduced public Bitcoin efforts to meet IMF -Loening conditions. This shift has done doubt about the future of the Bitcoin policy of El Salvador. While some data demonstrate 1 BTC transfers to government-related portfolios, it is unclear whether these are official purchases.
At the same time, experts notice that the Bitcoin Treasury strategy may lose its lead, with less profit left for new buyers.