El Salvador is celebrating “Bitcoin Day,” marking four years since the country first adopted Bitcoin as legal tender in September 2021. Its Bitcoin Office reported reserves of 6,313 BTC, valued at $702 million, alongside new initiatives such as banking laws that allow Bitcoin investment banks.
The government also announced that 80,000 public servants have received Bitcoin certifications and highlighted national programs linking Bitcoin with AI education. Despite these achievements, results remain mixed.
In January, the legislature repealed the legal tender law as part of a $1.4 billion IMF loan agreement. The deal required El Salvador to halt public Bitcoin purchases and scale back support for the Chivo wallet, which saw weak domestic adoption.
The anniversary illustrates both the promise and limits of nation-state Bitcoin adoption. While El Salvador remains a symbol of crypto’s potential, its retreat under IMF pressure shows the challenges of balancing financial sovereignty with global obligations.
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