Understand the implications of Bitcoin's downfall in El Salvador. Learn about the failed economic bet and its impact on the country's financial stability.
I think that’s why El Salvador is doing it. They never really forced people to use Bitcoin, US Dollar was also the legal tender and unlike Bitcoin, also the money of account.
But really though, can you call for IMF to stop lending to countries which buy Bitcoin when the issuer of Dollars, the U.S. has a President who has run multiple crypto/NFT scams and wants to use Government money to pump up crypto prices?
‘’’ officials ensure that the government will continue betting on this cryptocurrency, whose price currently exceeds $100,000. ‘’’
I think that’s why El Salvador is doing it. They never really forced people to use Bitcoin, US Dollar was also the legal tender and unlike Bitcoin, also the money of account.
But really though, can you call for IMF to stop lending to countries which buy Bitcoin when the issuer of Dollars, the U.S. has a President who has run multiple crypto/NFT scams and wants to use Government money to pump up crypto prices?
They wouldn’t be able to do all that evil stuff with the petrol-dollar if there were a valid alternative… Thus the IMF ban on bitcoin.