Quote from: Danica22 on Today at 02:37:46 AM

El Salvador has accepted bitcoin as legal tender but still uses USD as the main currency, they dare not eliminate USD and only use bitcoin. Furthermore, bitcoin is no longer a legal tender in El Salvador as of February 2025.

El Salvador made Bitcoin legal tender in their nation years ago in the past market cycle in 2021

In a world first, El Salvador makes bitcoin legal tender.

Last year, in 2024, El Salvador complied with IMF requirements on Bitcoin legal tender withdrawn.

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More importantly, many surveys show that 93-95% of people do not want to use bitcoin as a currency, the majority still only use USD as currency in El Salvador. Therefore, the government does not need to ban people from using bitcoin as currency because most people do not want to use it that way anyway. Bitcoin is too volatile, transaction fees and transactions are sometimes slow, it is not suitable for daily domestic transactions.

Don't need the IMF request and legal tender status withdrawn in the nation, it's naturally to see how its national Bitcoin legal tender failed and not supported by citizens in the nation. This policy was intentionally enforced by the government while citizens have different social and economic statuses so that they have different financial adaptability with Bitcoin market volatility. They definitely are not able constrain well with Bitcoin volatility and with individuals or small merchants, price volatility can harm their individual finance or small company finance.