So, International Monetary fund demands that El Salvador remove bitcoin as legal tender, otherwise it refuses to give loans to the country.
It seems the IMF fears that many other countries are soon likely to follow in the steps of El Salvador. Now under pressure, i hope the president of El Salvador doesn't bulge and remove bitcoin as a legal tender, it will be a big disappoint and set back to the crypto community. In a long run, say the current president doesn't bulge, i hope his successor will be one who shares his current plan to make El Salvador a safe haven for bitcoin, so that there can be continuity.
Too early to talk about continuity yet we wont be seeing the President would pass out anytime soon but its not a bad presumption though and as we can see that the recent deep didnt
really bulge in regarding into their decisions on making it as a legal tender since they are aware with volatility issues or risks of bitcoin in the first place.
For sure this would be an eye opener on some countries on which that a country do able to withstand and didnt really make themselves affected on that
recent deep.
I can see that Bukele is even more determined to continue investing in bitcoin as it has bought recently 410 bitcoins which they add more on the country's previous hodlings. So its like Bukele was not really affected at all if ever the IMF will not grant their loan anymore. After all, the reason that El Salvador has adopted bitcoin as a legal tender is to create progress in the country and when it prosper, there is no need to add more debts anymore as bitcoin will hedge against inflation, and can be a great asset that will lessen the poverty rate of the country.