The Bitcoin Office of El Salvador is celebrating the “Bitcoin Day”, the anniversary of the Bitcoin Legal Bidding Law (BTC) that enters into force in September 2021.
The Bitcoin office highlighted the country’s Bitcoin strategic reserve, which now has 6,313 BTC, valued at more than $ 702 million, and the new banking law, which allows BTC investment banks to serve sophisticated investors, in a Sunday X position.
The BTC government agency also said that 80,000 public servants have received a Bitcoin certification from 2025, added that El Salvador now houses several public programs of Bitcoins and artificial intelligence education.
Although El Salvador is the first country in the world to adopt Bitcoin as a legal tender and establish a strategic reserve, the government withdrew its Bitcoin policies to fulfill a loan agreement of the International Monetary Fund (IMF), a supranational financial institution.
The four-year Bitcoin experiment in the country has yielded mixed results, leaving the Bitcoin community divided into the result of the first example of Bitcoin adoption at the state-level level.
Related: El Salvador divides $ 678 million bitcoin into 14 wallets to reduce quantum risk
El Salvador Bitcoin experiment four years with mixed yields
The Legislature of El Salvador repealed the Law of Legal Bidding of Bitcoin and agreed not to buy additional bitcoin using public funds as part of a loan agreement of $ 1.4 billion with the IMF in January.
The Government also agreed to recharge the support for its Bitcoin Chivo wallet, which saw limited use among the country’s residents.
https://www.youtube.com/watch?v=4dhwzl-kiso
The IMF published a report in July revealing that El Salvador has not bought any new Bitcoin since signed the loan agreement of $ 1.4 billion in December 2024, sending shock waves through the cryptographic community.
The IMF report included a letter of intention signed by the president of the Central Bank of El Salvador, Douglas Pablo Rodríguez Fuentes and the Minister of Finance, Jerson Rogelio Posada Molina, confirming that the BTC’s balance of the Government has not changed.
El Salvador’s policies have generated criticism from some Bitcoin defenders and non -governmental organizations (NGOs), who say that BTC policies help the government but not the average residents of the Central American country.
Critics say that more educational initiatives are needed to fully carry out the benefits of the first decentralized pairs of the world and to encourage the adoption of the local population, instead of government agencies and international corporations.
Magazine: How is Bitcoin to use in El Salvador
