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

[qurbanshah02]

El Salvador President might be the wisest of all, tbh it takes great courage to do what he did, I hope others follow his footsteps.

He understands that his country has limited resources and there isn't much they can do with such a small country. On the other hand, Bitcoin continues to grow and is able to tackle the problems they face (remittances, lack of exposure for their tourism, etc.). The decision to accept Bitcoin and even make it legal tender was one of the best decisions he ever made. Even though in the end the IMF intervened and made them retract their decision to make Bitcoin legal tender, their choice to accept Bitcoin already allowed El Salvador to feel the real impact of adoption and made the country known, especially in the crypto world.

Their country now needs a big loan and to get the loan they will have to suspend buying Bitcoin for a certain period of time. Although the IMF has given a condition not to buy new Bitcoin, they have not given any condition that they have to sell all the Bitcoin they have in their reserves. So far they have bought a large amount of Bitcoin and kept it in their reserves and if they do not buy Bitcoin in the next few years, it will not be a problem for them. Their argument with the IMF for now is important, when the agreement expires, they will be able to make their decisions independently again.

At this time, the price of Bitcoin is more important for them to buy and they will try to increase the number of Bitcoins by borrowing because they know that this price will give them a lot of profit. This is their condition that if they do not accept this condition of the IMF while taking the loan, then the IMF will have to think about it, or El Salvador does not agree to this condition of the IMF. But they will lose a good profit, which they will never do. If they still do not buy thousands of Bitcoins at a price of 75k$, they will lose the profit they will have for next year. Yes, they can accept this to run their country, but they will not give much time to it because in a year they can get more Bitcoins than they borrow.

[Popkon6]

El Salvador President might be the wisest of all, tbh it takes great courage to do what he did, I hope others follow his footsteps.

He understands that his country has limited resources and there isn't much they can do with such a small country. On the other hand, Bitcoin continues to grow and is able to tackle the problems they face (remittances, lack of exposure for their tourism, etc.). The decision to accept Bitcoin and even make it legal tender was one of the best decisions he ever made. Even though in the end the IMF intervened and made them retract their decision to make Bitcoin legal tender, their choice to accept Bitcoin already allowed El Salvador to feel the real impact of adoption and made the country known, especially in the crypto world.

El Salvador has achieved the best reputation in the Bitcoin world, he has not failed to educate his people about Bitcoin from the highest to the lowest levels. He has taught children from childhood what Bitcoin is and how to use it, I have not seen any other government create such a situation. But the steps that Nayeb Bukele has taken are very different from those of other countries, he has been able to inform children and adolescents about Bitcoin so that the next generation will be more interested in Bitcoin.
Positive points for El Salvador, but according to the conditions of the IMF, this lending institution, they were forced to withdraw from the legal tender in Bitcoin, but later they will be included in the same inclusion again

[Luzin]

El Salvador has achieved the best reputation in the Bitcoin world, he has not failed to educate his people about Bitcoin from the highest to the lowest levels.

There is no doubt about El Salvador's seriousness in managing Bitcoin as a state reserve asset. In fact, this has also been proven by opening their Bitcoin accumulation addresses so that they can be monitored by anyone. Although it is not easy, I see El Salvador continuing to develop by making several policy changes to accommodate bitcoin adoption. This situation has also attracted Kyrgyzstan to create a digital reserve for the country. Farkhat Iminov met with Juan Carlos Reyes Garcia, Chairman of the National Digital Asset Commission of El Salvador. They both signed an agreement to share in regulating expertise exchange in cryptocurrency market regulation, company licensing, and supervision of digital asset transactions. Meanwhile, Kyrgyzstan specializes in establishing a national virtual asset reserve, including mechanisms for its management, secure storage, and fund protection.

Source: https://24.kg/en/article/kyrgyzstan-and-el-salvador-discuss-creation-of-state-crypto-reserve

[UpTober]

El Salvador President might be the wisest of all, tbh it takes great courage to do what he did, I hope others follow his footsteps.

He understands that his country has limited resources and there isn't much they can do with such a small country. On the other hand, Bitcoin continues to grow and is able to tackle the problems they face (remittances, lack of exposure for their tourism, etc.). The decision to accept Bitcoin and even make it legal tender was one of the best decisions he ever made. Even though in the end the IMF intervened and made them retract their decision to make Bitcoin legal tender, their choice to accept Bitcoin already allowed El Salvador to feel the real impact of adoption and made the country known, especially in the crypto world.

Their country now needs a big loan and to get the loan they will have to suspend buying Bitcoin for a certain period of time. Although the IMF has given a condition not to buy new Bitcoin, they have not given any condition that they have to sell all the Bitcoin they have in their reserves. So far they have bought a large amount of Bitcoin and kept it in their reserves and if they do not buy Bitcoin in the next few years, it will not be a problem for them. Their argument with the IMF for now is important, when the agreement expires, they will be able to make their decisions independently again.

At this time, the price of Bitcoin is more important for them to buy and they will try to increase the number of Bitcoins by borrowing because they know that this price will give them a lot of profit. This is their condition that if they do not accept this condition of the IMF while taking the loan, then the IMF will have to think about it, or El Salvador does not agree to this condition of the IMF. But they will lose a good profit, which they will never do. If they still do not buy thousands of Bitcoins at a price of 75k$, they will lose the profit they will have for next year. Yes, they can accept this to run their country, but they will not give much time to it because in a year they can get more Bitcoins than they borrow.

The amount of the loan should be seen, the IMF is showing interest in providing a huge loan but their only condition is that the government of this country should not buy Bitcoin again. The loan amount is large, so those who are providing loans have some responsibility in this regard. The IMF will provide loans for the development of various sectors of their country, of course they will never accept that a country taking a loan from them will enrich Bitcoin in their country's funds. Since this condition has been given for a specific number of years, El Salvador may accept this condition and take a loan to change the economic situation of their country and they may take Bitcoin-related decisions again later.

[Sonia_123]

El Salvador President might be the wisest of all, tbh it takes great courage to do what he did, I hope others follow his footsteps.

He understands that his country has limited resources and there isn't much they can do with such a small country. On the other hand, Bitcoin continues to grow and is able to tackle the problems they face (remittances, lack of exposure for their tourism, etc.). The decision to accept Bitcoin and even make it legal tender was one of the best decisions he ever made. Even though in the end the IMF intervened and made them retract their decision to make Bitcoin legal tender, their choice to accept Bitcoin already allowed El Salvador to feel the real impact of adoption and made the country known, especially in the crypto world.

Their country now needs a big loan and to get the loan they will have to suspend buying Bitcoin for a certain period of time. Although the IMF has given a condition not to buy new Bitcoin, they have not given any condition that they have to sell all the Bitcoin they have in their reserves. So far they have bought a large amount of Bitcoin and kept it in their reserves and if they do not buy Bitcoin in the next few years, it will not be a problem for them. Their argument with the IMF for now is important, when the agreement expires, they will be able to make their decisions independently again.

At this time, the price of Bitcoin is more important for them to buy and they will try to increase the number of Bitcoins by borrowing because they know that this price will give them a lot of profit. This is their condition that if they do not accept this condition of the IMF while taking the loan, then the IMF will have to think about it, or El Salvador does not agree to this condition of the IMF. But they will lose a good profit, which they will never do. If they still do not buy thousands of Bitcoins at a price of 75k$, they will lose the profit they will have for next year. Yes, they can accept this to run their country, but they will not give much time to it because in a year they can get more Bitcoins than they borrow.

The amount of the loan should be seen, the IMF is showing interest in providing a huge loan but their only condition is that the government of this country should not buy Bitcoin again. The loan amount is large, so those who are providing loans have some responsibility in this regard. The IMF will provide loans for the development of various sectors of their country, of course they will never accept that a country taking a loan from them will enrich Bitcoin in their country's funds. Since this condition has been given for a specific number of years, El Salvador may accept this condition and take a loan to change the economic situation of their country and they may take Bitcoin-related decisions again later.

El-salvador should be wise enough not to completely accept the condition of IMF not to buy Bitcoin because it's obvious that they want to monopolies their country so that they can have a total control of the country's resources over time and prevent them from any other benefit or help from any other firm or country.

IMF is also seeing Bitcoin as a threat to the country's fiscal stability and public debt will be at a very high risk because of Bitcoin price not being stable and so they are scared if El-salvador will not be able to pay back their loans, but forcing them not to have or purchase Bitcoin will be disastrous since they see bitcoin as a future asset that will help them salvage their economy.

[Luzin]

El-salvador should be wise enough not to completely accept the condition of IMF not to buy Bitcoin because it's obvious that they want to monopolies their country so that they can have a total control of the country's resources over time and prevent them from any other benefit or help from any other firm or country.

IMF loan conditions do not affect the increase in the amount of Bitcoin in El Salvador. They have purchased Bitcoin today. So currently they have 7,833 BTC worth about $559 million. Although this condition is indeed carried out by private parties and the state holds the largest shares. This has been reported in several media outlets, but I am not confident about this. I think the government is only trying to meet IMF requirements while the main actors in El Salvador are behind all these decisions. IMO

Source: https://x.com/BitcoinMagazine/status/2121005546388021577?s=20