El Salvador after the IMF: bitcoin no longer mandatory, but reserves keep growing
- —The $1.4 billion IMF program required reducing bitcoin's role in the economy
- —Since early 2025, merchant acceptance is voluntary and taxes cannot be paid in BTC
- —State holdings exceed 6,000 BTC, though the IMF disputes some reported purchases
- —Bitcoin City and the volcano bonds were never realized
Why it matters: The case shows legislation cannot force crypto adoption, yet a sovereign BTC reserve remains both a political and financial tool.
Source: CriptoTendencias