On the fourth anniversary of Bitcoin becoming legal tender in El Salvador, the nation celebrates with a focus on its strategic reserve and new banking laws. The government highlights progress through public servant Bitcoin certification programs and educational initiatives but acknowledges mixed results four years into the experiment. Despite being the first country to implement such policy, El Salvador’s approach shifted after IMF loan agreements led to changes in policies like scaling back support for Chivo, the national Bitcoin wallet.
The country’s decision to comply with an IMF loan deal saw the repeal of the Bitcoin legal tender law and a halt on purchasing additional BTC. The IMF report confirmed that El Salvador has not bought any Bitcoin since the agreement was signed in December 2024, leaving crypto enthusiasts baffled. While government initiatives continue, some critics have raised concerns about the need for broader education and adoption to truly maximize the potential of the world’s first decentralized peer-to-peer electronic cash system.