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El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 2 comments | 04 Feb 25 00:00 UTC | HN request time: 0s | source
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josu ◴[04 Feb 25 00:20 UTC] No.42925443[source]▶
While it is true that adoption remained relatively low, the reason why they abandoned it is that the IMF made it a condition for the Salvadorian government to be able to receive a 1.4B loan.
replies(1): >>42925981 #
rsanek ◴[04 Feb 25 01:06 UTC] No.42925981[source]▶
Why did they need the loan so bad they had to change their currency?
replies(2): >>42926248 #>>42927271 #
1. wmf ◴[04 Feb 25 01:30 UTC] No.42926248[source]▶
Because they're broke.
replies(1): >>42926818 #
2. EdwardDiego ◴[04 Feb 25 02:20 UTC] No.42926818[source]▶
Yes, but why.