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El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 1 comments | 04 Feb 25 00:00 UTC | HN request time: 0.214s | source
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ptero ◴[04 Feb 25 00:17 UTC] No.42925410[source]▶
That's heavy editorializing:

El Salvador keeps buying the Bitcoin for its strategic reserve. Businesses and citizens can keep using it.

But for getting an IMF loan, IMF (which, to put it mildly, doesn't like Bitcoin) required the end to Bitcoin legal tender status.

Now the businesses are free to accept it or not instead of being required to accept it. That's all. The government plans to keep buying and using it.

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throw_pm23 ◴[04 Feb 25 00:49 UTC] No.42925790[source]▶
Why do they need an IMF loan? (that's typically a sign of the economy not doing great)
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1. olalonde ◴[04 Feb 25 03:52 UTC] No.42927665[source]▶
They've needed IMF loans for decades, this is unrelated to Bitcoin: https://www.imf.org/external/np/fin/tad/extarr2.aspx?memberK...