$BTC

El Salvador's Ongoing Bitcoin Experiment

El Salvador continues to navigate its decision to adopt Bitcoin as legal tender. While the initiative aimed to promote financial inclusion and economic growth, recent reports indicate mixed outcomes. As of 2024, Bitcoin transactions accounted for a smaller portion of remittances compared to neighboring countries, and the government's Bitcoin holdings experienced fluctuations in value. The International Monetary Fund (IMF) has influenced policy adjustments, leading to reduced government purchases of Bitcoin and changes in its legal tender status.