El Salvador’s Bitcoin Reserve Fails to Help the Average Citizen — NGO Exec
El Salvador's Bitcoin reserve has had minimal impact on the general population, with the International Monetary Fund (IMF) loan agreement complicating the country's Bitcoin strategy. The repeal of Bitcoin as legal tender under the IMF agreement has led to a lack of public education and state-led initiatives regarding Bitcoin. The government continues to accumulate Bitcoin, which benefits it but does not directly aid the populace. The IMF report confirmed that El Salvador agreed not to purchase new Bitcoin, contradicting claims from the country's Bitcoin Office. In January, the legislature reduced public sector involvement in Bitcoin to comply with the IMF deal, raising questions about the success of the Bitcoin experiment. Despite some small businesses using Bitcoin via the Lightning Network for transactions, a significant lack of education remains a barrier to broader adoption.
