El Salvador is still Bitcoin country, despite the fact that bitcoin is no longer legal tender in the country — at least from where I’m sitting.
First, let’s look at the background.
The Legislative Assembly of El Salvador will vote on January 29, 2025. remove bitcoin’s status as legal tender.
Businesses in the United States are no longer required to accept bitcoin. (I don’t believe this rule has ever been strictly enforced, even when Bitcoin was considered legal currency. However, I have heard that large businesses operating in the US (e.g. McDonald’s, Walmart), may now stop accepting bitcoin for payment. This could negatively impact adoption.
The International Monetary Fund’s (IMF) announcement of the change took place approximately a month later. struck a deal with authorities in El Salvador It stipulates the following:
- El Salvador received a loan of $1.4billion to fund its government. “reform agenda”
- The risks associated with Bitcoin must be minimized. Bitcoin acceptance in the private sectors should be voluntary. Public sector participation in bitcoin-related activities will be mandatory. “confined” The use of bitcoin to pay tax or settle debts with the government is no longer possible.
- The government created Bitcoin wallet Chivo would operate as a separate entity “unwound”
I am not Salvadoran, nor do I live in El Salvador, but I still believe El Salvador remains a Bitcoin country.
This feeling is only strengthened by what Bitcoiners from El Salvador have posted on X.
Evelyn Lemus is the co-founder of and director of education at Bitcoin BerlinIt is not their intention to stop informing everyday Salvadorans of Bitcoin.
Say it loud.
Bitcoiners won’t stop educating about Bitcoin or making adoption happen because Bitcoin is no longer legal tender. We need to continue pushing and doing what we are currently doing.🇸🇻
LFG🙌
The Bitcoins in people’s hands🫡 pic.twitter.com/hnMpJmL5c7— Evelyn Lemus (@Evelynlemus2906) February 2, 2025
Team at Bit Driver don’t plan to change their business model — accepting bitcoin as taxi fare — any time soon.
We're still a Bitcoin a company.
— Bitdriver (@bitdriver_sv) February 2, 2025
The following are some of the ways to get in touch with us John Dennehy, founder of Mi Primer BitcoinHe and his ever-growing Mi Primer Bitcoin team plan to continue their work despite the fact that the El Salvador government has rolled back the policy of bitcoin being a legal currency.
El Salvador Good Morning!
Now we are in DAY NINE of the 90-day period since the IMF requested that the Government revoke Bitcoin’s status as a legal tender.
The importance of grassroots and independent Bitcoin education has increased.
In response, at… pic.twitter.com/iTXdf0gAoL
— John Dennehy (@jdennehy_writes) February 7, 2025
Legendary Max and Stacy I have not publicly announced any intention to abandon El Salvador in the near future.
You can also read about how to get in touch with us. El Salvador’s Bitcoin Office, run by StacyBitcoin is still stacked and the program to educate people about Bitcoin continues.
🇸🇻EL SALVADOR ADDS ANOTHER ONE BTC TO STRATEGIC RELEASE
El Salvador has not stopped stacking.
Every day.
➡️SBR total holdings: 6 071,18 BTC
➡️The total added today: 1 BTC
➡️The total amount added in the past 7 days: +22 BTC
➡️Total Added Past 30 Days: +60 BTC… pic.twitter.com/y4kv2693BX— The Bitcoin Office (@bitcoinofficesv) February 7, 2025
This shows that even though the El Salvadorian government may have amended the legislation surrounding Bitcoin, Bitcoiners haven’t flinched.
Because we are BitcoinIt is important that all Salvadorans, including those who have been involved with Bitcoin in El Salvador continue their Bitcoin mission.
Bitcoiners remain unwavering in El Salvador in their quest to encourage broader Bitcoin adoption.
El Salvador still has Bitcoin.
The article below is an overview of the topic. Take. The opinions expressed here are those of the authors and not BTC Inc. or Bitcoin Magazine.
“This article is not financial advice.”
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Source: bitcoinmagazine.com
