The cynics and idealists from Bitcoin

El Salvador is still Bitcoin -land

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Follow Frank on X.

El Salvador is still Bitcoin land despite the fact that Bitcoin is no longer a legal bid in the country – at least from where I am sitting.

Let’s start with a certain background about the case.

On January 29, 2025, the Legislative Assembly voted in El Salvador to remove Bitcoin’s status as a legal bid.

This means that companies in the country no longer have to accept Bitcoin (not that this rule ever was enforced strictly, while Bitcoin was classified as legal currency, as far as I know; however, I have been told that large companies operating in The country (eg McDonalds, Walmart) can stop accepting Bitcoin as payment now, which can have a detrimental effect on the adoption).

This change happened about a month after the International Monetary Fund (IMF) entered into an agreement with the authorities in El Salvador, who decided the following:

  • El Salvador would receive a loan of $ 1.4 billion to support the government’s “Reform agenda”
  • Bitcoin-related risks are diminished; Bitcoin acceptance in the private sector must be voluntary, while the public sector’s participation in Bitcoin-related activities would be “enclosed” (Bitcoin can no longer be used to settle government debt or pay taxes)
  • Operations for the government-created Bitcoin-Wing Book, Chivo, would be “Ununbye

While the news of the Salvadoran Government is turning its policy for Bitcoin as a legal bid as a result of the influence of the IMF feels like a gut punch, even for me, someone who is not Salvadoran and does not live in the country, I can help with believing , that El Salvador is still Bitcoin country.

And this feeling has only become stronger based on what I have seen Bitcoiners in El Salvador posted on X.

Evelyn Lemus, co-founder and Director of Education of Bitcoin Berlin, a Bitcoin circular economy in the country, plans not to stop teaching everyday Salvadorans about Bitcoin.

The team at Bit Driver is not planning to change their business model – to accept Bitcoin as a taxi ticket price – anytime soon.

While John Denhy, founder of Mi Primer Bitcoin, expressed concern to the government of El Salvador’s rolling back his policy for Bitcoin as a legal currency, he and the ever -growing team at Mi Primer Bitcoin plan to double the work they are doing.

The legendary Max and Stacy have not expressed any plans to give up El Salvador anytime soon.

And El Salvador’s Bitcoin office, run by Stacy, is still stacking Bitcoin and helping to run Bitcoin training programs in the country.

The lesson here is that although the law around Bitcoin may have changed in El Salvador, Bitcoiners on Earth hardly has flinch.

Because we are Bitcoin, what matters most means that everyday Salvadorans and everyone else involved in the Bitcoin movement in El Salvador continues to push forward with the Bitcoin mission.

The IMF may have landed a battle, but Bitcoiners in El Salvador remain steadfast in their efforts to promote a wider Bitcoin adoption.

El Salvador is still Bitcoin land.

This article is one Take. Opinions expressed are completely the author’s and does not necessarily reflect BTC Inc or Bitcoin magazine.

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