The negotiations between El Salvador and the International Monetary Fund (IMF) to secure a loan of 1.4 billion dollars had repercussions on Nayib Bukele's bitcoin policy. Although the deal was agreed upon, the country of volcanoes will concede some areas, one of which is that it will discontinue the Chivo wallet.

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El Salvador will disconnect the Chivo Wallet from bitcoin.

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Bitcoin will remain legal in El Salvador, but without the Chivo Wallet.

More than three years of negotiations, dozens of meetings, and trips, but the results have already begun to arrive. Bitcoin (BTC) remains legal tender in El Salvador, whether the International Monetary Fund likes it or not, but the country had to concede to some requests related to bitcoin to gain access to a necessary loan of 1.4 billion dollars.

The government of Nayib Bukele will have to discontinue, or in that case sell, the Chivo Wallet, which was once the starting point for the adoption of bitcoin in the Central American country. Launched in September 2021, the wallet was the first entry point into the world of bitcoin for many Salvadorans.

If we assess the results of the negotiations, El Salvador achieved victory. Beyond the request related to the wallet, bitcoin remains on the country's political agenda and is attracting investments. The educational deployment on BTC remains intact, and now the nation will have funding for new structural projects.