El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻

[Luzin]

Got surprised about that rejection? IMF strongly discourage EL Salvador to invest on Bitcoin, their resistance and following what they like to happen ends up receiving that decision.

Surprised by the approval of the loan, not being rejected. Of course, I am not 100% sure that Bitcoin accumulation is purely from the private sector. Then another condition is that the IMF also seems not to be firm with what they say. I have not found any statement from the IMF to El Salvador that there must be action taken or that there are consequences if violated. What I understand is that the IMF only expects, and it is possible that El Salvador can continue to accumulate. Initially, I did not hear any reasons for rejection regarding the use of public funds to buy Bitcoin as a reason for loan rejection, and today an argument regarding purchases from the private sector has emerged. This is good news for them, the funds can be used to support development in vital sectors of the country.

[Cryptmuster]

Today I was quite surprised because previously the controversy over El Salvador's loan application to the IMF seemed to be rejected due to El Salvador continuing to accumulate Bitcoin. But I read on Binance Square that on October 1, the IMF actually approved a disbursement of around $138 million US dollars. I don't know if this is new proposal or not, but first i heard El Salvador is requesting a loan of $1.4 billion. The report submitted to the IMF indicated that the current accumulation was sourced from private funds, not public funds. In addition, they also hope that the accumulation will stop and not be heavily involved in Bitcoin affairs. Will this be done by El Salvador? We understand that currently El Salvador's Bitcoin reserves have increased to 7,792 BTC.

Yes, El Salvador has received another loan from the IMF, and although El Salvador managed to convince the Fund this time that the Bitcoin purchases were being made using private investments, the IMF still emphasized that the they should stop buying Bitcoin altogether. I don't know what exactly they agreed on, but I can see that El Salvador is still buying one Bitcoin a day. Once again, this shows that Bukele has no intention of following the wishes of other institutions, particularly the IMF, which provides the country with loans.
I don't know how all of this will end, but I like Bukele's stance on this.

[o48o]

Yes, El Salvador has received another loan from the IMF, and although El Salvador managed to convince the Fund this time that the Bitcoin purchases were being made using private investments, the IMF still emphasized that the they should stop buying Bitcoin altogether. I don't know what exactly they agreed on, but I can see that El Salvador is still buying one Bitcoin a day. Once again, this shows that Bukele has no intention of following the wishes of other institutions, particularly the IMF, which provides the country with loans.
I don't know how all of this will end, but I like Bukele's stance on this.

If it's private investments they have used, then it's not El Salvador buying it and most likely not owning it. This would mean that there's no countries in the world that have ever bought bitcoins. They are only holding coins that they have confiscated and there's no way of knowing if they are going to hodl it. I think this is good news, as to me BTC has always been coin of the people, not countries.

But it doesn't seem like a good news to anyone who were waiting for US and other countries to start buying it for their reserves.

[famososMuertos]

Boom!!!
:://:::

Whenever I read that figure, it seems to me that for just $1.4 billion, a free country should have to sell its ideals or principles because of an internal demand from the IMF. From a structural point of view, this shouldn't be an issue; it's an old strategy of these organizations that subjugate small countries to foreign interests.

That gray area that Bukele created; that Bitcoin investments aren't directly from the government; we all know can be translated as "being the owner of your own money"—my Bitcoins, my decisions.

Unfortunately for El Salvador, its economy depends on these loans and, basically, on foreign investment, largely from tourism.

[coupable]

Yes, El Salvador has received another loan from the IMF, and although El Salvador managed to convince the Fund this time that the Bitcoin purchases were being made using private investments, the IMF still emphasized that the they should stop buying Bitcoin altogether. I don't know what exactly they agreed on, but I can see that El Salvador is still buying one Bitcoin a day. Once again, this shows that Bukele has no intention of following the wishes of other institutions, particularly the IMF, which provides the country with loans.
I don't know how all of this will end, but I like Bukele's stance on this.

What is this private investment? Does it mean that the state is buying 1 bitcoin a day and storing it on behalf of someone else called "private investor"? Does Bukele believe himself that the IMF with other institutions adopts his story of private investment? I don't know how they agreed to give him another loan while he still spends money to buy bitcoin on an everyday basis.

[macson]

-.-

So basically the IMF wants El Salvador to obey whatever they say if they want to get their money. Damn. What loan sharks they are. But I'm not surprised that they are so eager not to encourage El Salvador to accumulate Bitcoin. They just want the country that becomes their 'client' to submit to whatever they say.


I just want to put a legendary photo of the Indonesian president and the IMF Managing Director here -- to remind that there should never be another president of a country who gets to experience this moment.

[laspol65]

-.-

So basically the IMF wants El Salvador to obey whatever they say if they want to get their money. Damn. What loan sharks they are. But I'm not surprised that they are so eager not to encourage El Salvador to accumulate Bitcoin. They just want the country that becomes their 'client' to submit to whatever they say.
I just want to put a legendary photo of the Indonesian president and the IMF Managing Director here -- to remind that there should never be another president of a country who gets to experience this moment.

The IMF is using this lending institution because El Salvador is a legal tender. However, the IMF knows very well that if they hold Bitcoin for the future, no one will take a loan from them, so they hesitate to lend to countries that buy Bitcoin and impose various conditions on them. El Salvador is starting to become self-sufficient,
so in such a situation they do not want to lend because if they lend, they will buy more Bitcoin and hold it for the future. Holding Bitcoin and keeping it for a long time for the future is something that the IMF does not tolerate.

[abaeze]

-.-

So basically the IMF wants El Salvador to obey whatever they say if they want to get their money. Damn. What loan sharks they are. But I'm not surprised that they are so eager not to encourage El Salvador to accumulate Bitcoin. They just want the country that becomes their 'client' to submit to whatever they say.
I just want to put a legendary photo of the Indonesian president and the IMF Managing Director here -- to remind that there should never be another president of a country who gets to experience this moment.

The IMF is using this lending institution because El Salvador is a legal tender. However, the IMF knows very well that if they hold Bitcoin for the future, no one will take a loan from them, so they hesitate to lend to countries that buy Bitcoin and impose various conditions on them. El Salvador is starting to become self-sufficient,
so in such a situation they do not want to lend because if they lend, they will buy more Bitcoin and hold it for the future. Holding Bitcoin and keeping it for a long time for the future is something that the IMF does not tolerate.

I have freedom of speech, so I will not hesitate to say that this IMF is an organization that wants to control different countries through loans. They know that to control a country is enough to control their economy but Bitcoin gives that freedom to those who believe in an independent economy after being free from the IMF. They have been working against Bitcoin since the beginning of Bitcoin but Bitcoin has not stopped, rather over time, its widespread adoption and a market worth more than trillions of dollars have been created.

Now no one can keep Bitcoin in check if they want. It will not end by just imposing sanctions or imposing various conditions, people are now using it as an investment economy and as a hedge against inflation and as a tool to protect their wealth from currency depreciation. So El Salvador is an example all over the world and they are legally making their Bitcoin reserves, no one should stop it.

[tvbcof]

El Salvador was a big moment, but it also proved that adoption can’t be forced by law alone. People will use Bitcoin regularly only if it’s actually useful and easy for them.

IIRC, the IMF forced Bukele to demand _taxes_ be paid in USD and not in BTC.  Bukele was successfully 'encouraged' to comply with their wishes apparently.

Legal Tender traditionally (always?) has to do with the settlement of debts.  As I have stated before, even if BTC was legal tender, it doesn't mean that vendors would necessarily have to accept it.  They could refuse the terms of a sale (e.g., 'settle in BTC') and no debt is ever produced.

By the same token, Bukele could, if he could get it through the branches of government, still require that all vendors must accept  BTC if the customer wished to pay in that form.  This is a policy matter of governing a society including national security.

In other words, Legal Tender and Use Mandates are two different things with as much or as little correlation as the government decides.  People have a say too; it's common for me to refuse a purchase if it isn't settled in BTC.  The law and policy shifts have not changed that at all.  All they did was to force me to pay my their taxes in USD which would be an odd priority for a president to have so it's a fair assumption that there was more than a little pressure brought to bear.

As far as I can tell, BTC is better supported by vendors now than when the IMF did whatever they did to force El Salvador to modify their legal tender laws.  The (presumably separate) policy mandating BTC support as a guiding hand toward a more robust economy never was effective against the established money in the country.  Car dealers, banks, etc.  Perhaps they would have been encouraged sufficiently had global powers not stepped in.  Hard to know.

My estimate is that the monied classes in the country are far more chummy with the IMF than they are with the elected leaders.  That's the usual state of affairs in every 'democracy' I've studied first-hand...and it's rarely a winning bet to side against and established oligarchy.

---

Honestly people, Bitcoin isn't right for a majority of the peeps in El Salvador or in almost any country, and the so-called 'web-3' dumpster fire is even worse.  My advice is and has been for some time now to try to keep cash an option, and I'm guessing that that itself will be a Herculean/Sisyphean task as 'the Beast' closes in.  If cash dies, I predict that Bitcoin all semi-real cryptos are shortly to follow.  If cash lives, Bitcoin itself may persist for the use of the tiny minority who even wants it.  Maybe.

[Luzin]

Unfortunately for El Salvador, its economy depends on these loans and, basically, on foreign investment, largely from tourism.

I haven't heard any facts that their economy is improving. It's just that there are a lot of news reports mentioning that El Salvador made fantastic profits when Bitcoin reached its last peak price. But today the price dropped, and I think it seems they haven't sold any Bitcoin yet. I read that they have accumulated it when the price was around $39,800 for 1 BTC.

So I think it's reasonable if they rely on this loan fund as a driving force for the country's economy. In detail, it might be like supporting macroeconomic stability policies, strengthening the balance of payments, and restoring the country's fiscal flexibility.

[estenity]

Unfortunately for El Salvador, its economy depends on these loans and, basically, on foreign investment, largely from tourism.

I haven't heard any facts that their economy is improving. It's just that there are a lot of news reports mentioning that El Salvador made fantastic profits when Bitcoin reached its last peak price. But today the price dropped, and I think it seems they haven't sold any Bitcoin yet. I read that they have accumulated it when the price was around $39,800 for 1 BTC.

So I think it's reasonable if they rely on this loan fund as a driving force for the country's economy. In detail, it might be like supporting macroeconomic stability policies, strengthening the balance of payments, and restoring the country's fiscal flexibility.

we have heard about a fantastic improvement in tourism for the last years.
for other things, i do not know;
i suppose that salvador debts come mainly from pre-bukele era, when the country was in a very precarious position.
who can confirm this ?

[Cryptmuster]

What is this private investment? Does it mean that the state is buying 1 bitcoin a day and storing it on behalf of someone else called "private investor"? Does Bukele believe himself that the IMF with other institutions adopts his story of private investment? I don't know how they agreed to give him another loan while he still spends money to buy bitcoin on an everyday basis.

Of course, I think the situation is pretty clear to everyone. The IMF understands that private investors wouldn’t agree to buy Bitcoin just for the government to hold it. I think Bukele is trying to find a way for El Salvador to continue buying Bitcoin without the IMF objecting to it.

Bukele is a smart man, and he continues to stand his ground. It’s unclear what will happen with future loans, I believe he once said that El Salvador would actually like to stop relying on external financing altogether. Perhaps that’s exactly what he’s working towards.
I don’t know what else to say for now, but one thing is certain, El Salvador is still buying one Bitcoin a day.

[Taskford]

What is this private investment? Does it mean that the state is buying 1 bitcoin a day and storing it on behalf of someone else called "private investor"? Does Bukele believe himself that the IMF with other institutions adopts his story of private investment? I don't know how they agreed to give him another loan while he still spends money to buy bitcoin on an everyday basis.

Of course, I think the situation is pretty clear to everyone. The IMF understands that private investors wouldn’t agree to buy Bitcoin just for the government to hold it. I think Bukele is trying to find a way for El Salvador to continue buying Bitcoin without the IMF objecting to it.

Bukele is a smart man, and he continues to stand his ground. It’s unclear what will happen with future loans, I believe he once said that El Salvador would actually like to stop relying on external financing altogether. Perhaps that’s exactly what he’s working towards.
I don’t know what else to say for now, but one thing is certain, El Salvador is still buying one Bitcoin a day.

IMF see Bitcoin as financial threat, this is the reason why they heavily discourage El Salvador to HODL Bitcoin.

Actually this is the reason why they made this counteractions before.

The government of Nayib Bukele has agreed, as part of a deal with the International Monetary Fund (IMF), to stop buying bitcoin and has transferred “majority ownership and control” of more than 7,763 coins, valued at over $632 million, to “a private operator,” according to a statement released Thursday by the Fund.

The announcement comes as part of the third review of compliance with the conditions of a $1.4 billion loan, scheduled in several disbursements and underway since early 2025. This is a new setback for one of Bukele’s most controversial and ambitious projects, after he removed bitcoin as legal tender in January of this year, also under pressure from the IMF.

That information came from this news posted last September https://www.elsalvadornow.org/2026/09/05/bukele-yields-to-the-imf-halts-bitcoin-purchases-and-hands-over-current-holdings-to-a-private-operator-bukele-cede-ante-el-fmi-frena-la-compra-de-bitcoin-y-entrega-las-reservas-actuales-a

Bukele is indeed a smart man, because even if he made that transfer. Still for sure they have control of the funds which they hand to a  private operator.

[greysonz]

El Salvador has been saving up, little by little, and now has more Bitcoin per capita than the United States! After all, El Salvador already has 122,000 satoshis per capita.
The United States, on the other hand, has approximately 96,000 satoshis per capita.


https://x.com/SimplyBitcoin/status/2113433493258821754

[2Pizza410000BTC]

NEW: El Salvador bought another BTC for its Strategic Bitcoin Reserve today 🇸🇻

They now own 7,817 BTC!


https://x.com/BitcoinMagazine/status/2114832819683827774

[AprilioMP]

NEW: El Salvador bought another BTC for its Strategic Bitcoin Reserve today 🇸🇻

They now own 7,817 BTC!


https://x.com/BitcoinMagazine/status/2114832819683827774

The more, the better for their hedging strategy.
Regardless of what lies behind their decision regarding Bitcoin—including the financial implications highlighted by renowned institutions such as the IMF—from my perspective, El Salvador’s decision to adopt Bitcoin as a reserve is a solution-oriented step toward addressing future global economic uncertainty.

[Italian Panic]

NEW: El Salvador bought another BTC for its Strategic Bitcoin Reserve today 🇸🇻

They now own 7,817 BTC!

I really like this strategic reserve by the government of El Salvador in fact, I also like the way Bukele governs the country and the war he has declared on criminal gangs. Reviving a society lived with corruption and crime was no easy job, and he has succeeded. I don’t know whether Bitcoin will ever become El Salvador’s main currency, but it certainly remains an economic and social policy experiment of enormous significance, as well as a first rate case study for Bitcoin.

[laspol65]

NEW: El Salvador bought another BTC for its Strategic Bitcoin Reserve today 🇸🇻
They now own 7,817 BTC!

I really like this strategic reserve by the government of El Salvador in fact, I also like the way Bukele governs the country and the war he has declared on criminal gangs. Reviving a society lived with corruption and crime was no easy job, and he has succeeded. I don’t know whether Bitcoin will ever become El Salvador’s main currency, but it certainly remains an economic and social policy experiment of enormous significance, as well as a first rate case study for Bitcoin.

The country of El Salvador has started its journey of success through Bitcoin investment, but what I like most is that tourists could not enter the country of El Salvador only because of this mafia. That mafia has been completely cleaned up and all the oppressors have been imprisoned, now the country of El Salvador has become a prosperous country and they are also successful in this Bitcoin investment. Now this is the biggest proof that the country of El Salvador has become an example for different countries, due to their collection of Bitcoin and holding it for a long time,
they are currently experiencing the most profits and their country will definitely be economically successful.
Not only that, everyone from small children to adults is being educated about Bitcoin so that the next generation can grasp Bitcoin more.

[ultrloa]

NEW: El Salvador bought another BTC for its Strategic Bitcoin Reserve today 🇸🇻

They now own 7,817 BTC!

I really like this strategic reserve by the government of El Salvador in fact, I also like the way Bukele governs the country and the war he has declared on criminal gangs. Reviving a society lived with corruption and crime was no easy job, and he has succeeded. I don’t know whether Bitcoin will ever become El Salvador’s main currency, but it certainly remains an economic and social policy experiment of enormous significance, as well as a first rate case study for Bitcoin.

Look at this amazing changes what Bukele done in El Salvador https://elsalvadorinenglish.com/2024/05/30/president-nayib-bukeles-first-term-transformative-achievements-in-el-salvador

But for me the biggest achievement he made, is he listen up the crimes by eliminating the gangs and other crime group. Then made El Salvador safe to tourist, then next to that is the Bitcoin adoption and rest is history.

El Salvador change a lot under him and they became visible in the mainstream, because they have good visionary leader handling their country.

[Doan9269]

The El Salvador president, Nayib Bukele has done a lot in moving the country Forward by its numerous achievements through bitcoin adoption, can also look at the series of alleviation programs that targeted at establishing every citizens to how they could engage the use of Bitcoin on their daily economic activities, that does not stop there, you can also see some diverse opportunities that have been granted for school children to learn about bitcoin education in their various learning institutions, and they have also been investing into Bitcoin from time to time and holding, if you have been to El Salvador in the last 3 years and revisit the country today, you will count on series of achievements that have taken place as a result of Bitcoin adoption in the country.

I do call it a Bitcoin tourist country to visit.