Al Salvador’s Bitcoin Office is celebrating the anniversary of the Bitcoin (BTC) legal tender law “Bitcoin Day”, which is effective in September 2021.
The Bitcoin Office highlighted the country’s bitcoin strategic reserve, which now holds 6,313 BTC, which costs more than $ 702 million, and new banking law, which allows BTC investment banks to serve the refined investors in Sunday X, Post,
The government’s BTC agency also said that 80,000 public servants have received bitcoin certification by 2025, and said that Al Salvador now hosts several public bitcoins and artificial intelligence education programs.
To adopt bitcoin as a legal tender and establish a strategic reserve despite being the first country in the world, the government withdrew its bitcoin policies to follow the loan deal with a supernational financial institution, International Monetary Fund (IMF).
The country’s four-year-long bitcoin experiment has achieved mixed results, dividing the bitcoin community on the result of the first example of adopting nation-state-state bitcoins.
Connected: L Salvador divides $ 678 meter bitcoin into 14 wallets to reduce quantum risk
Bitcoin of El Salvador used four years on yield mixed results
The Legislature of Al Salvador rejected the Bitcoin legal tender law and agreed not to buy additional bitcoins using public funds as part of the $ 1.4 billion loan deal with IMF in January.
The government also agreed to refund support for its Chivo Bitcoin Wallet, which saw limited use among the residents of the country.
https://www.youtube.com/watch?v=4Dhwzl- Kiso
IMF published Report In July, revealing that Al Salvador has not bought any new bitcoin since signing a $ 1.4 billion loan agreement in December 2024. Wonder Through the Crypto community.
The IMF report included a letter signed by Douglas Pablo Rodriguez Phuentes, Chairman of the Central Bank of L Salavador, and Finance Minister, Jersellio, Posada Molina, a letter signed by Jersellio Posada Molina, which confirmed that the government’s BTC balance has not changed.
The policies of Al Salvador have criticized some bitcoin advocates and non-governmental organizations (NGOs), who say that BTC policies help the government, but not the average residents of the Central American country.
Critics say more education initiative is needed to fully feel the benefits of Peer-to-Pier Electronic Cash system from the world’s first decentralized colleague rather than government agencies and international corporations.
magazine: It really likes to use bitcoin in Al Salvador
