El Salvador decided to give up its positions and returned to borrowing from the IMF.

The IMF granted El Salvador a loan of $1.4 billion, as well as a credit line of $2 billion over the next 40 months. It may seem, what does this have to do with BTC and crypto?

Among the requirements of the loan were several interesting points, namely:

1) El Salvador agreed to the IMF's requirement to change the status of bitcoin as a legal means of payment, making its acceptance voluntary.

2) El Salvador is abandoning support for the state crypto wallet Chivo.

Although recently El Salvador announced its refusal to attract external debt, it has now changed its position and, in essence, set a precedent: The first country that managed to emerge from a debt pit with the help of BTC - it has completely zeroed out.

Why is this important for the IMF? It's simple - El Salvador would become an example for other countries + it would undermine the hegemony of the dollar, which is also being managed by the Democrats. Such a move would also prevent El Salvador from escaping the credit shackles, which would strengthen the IMF's position and support their reputation and influence.

From the perspective of state governance - the decision is correct, but as a precedent for BTC and its acceptance in other countries - it is not the best thing that could happen.

#BTC