{"id":8278,"date":"2025-02-07T23:29:35","date_gmt":"2025-02-07T22:29:35","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=8278"},"modified":"2025-02-07T23:29:35","modified_gmt":"2025-02-07T22:29:35","slug":"el-salvador-the-heartbeat-of-bitcoin-enthusiasm","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/02\/07\/el-salvador-the-heartbeat-of-bitcoin-enthusiasm\/","title":{"rendered":"El Salvador: The Heartbeat of Bitcoin Enthusiasm"},"content":{"rendered":"<p><\/p>\n<figure>\n<\/figure>\n<figure>\n<p>                        <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjEyNjc1NDk4OTYxMDIwNDI1\/screenshot-2024-09-30-at-10205pm_1.png\" height=\"800\" width=\"805\"><figcaption>Connect with Frank on <a href=\"https:\/\/x.com\/frankcorva\">X<\/a>.<\/figcaption><\/figure>\n<p>El Salvador remains a Bitcoin nation, even though bitcoin is no longer recognized as legal tender in the nation \u2014 at least from my perspective.<\/p>\n<p>Let\u2019s begin with some context regarding this situation.<\/p>\n<p>On January 29, 2025, the Legislative Assembly of El Salvador made a decision to <a href=\"https:\/\/reason.com\/2025\/02\/03\/el-salvador-walks-back-its-bitcoin-law\/\">revoke bitcoin&#8217;s legal tender status<\/a>.<\/p>\n<p>This indicates that businesses in the nation are no longer required to accept bitcoin (though this regulation was hardly enforced while bitcoin was deemed legal currency, as far as I know; nevertheless, I have been informed that large enterprises operating in the nation (such as McDonald&#8217;s, Walmart) might cease accepting bitcoin as payment now, which could negatively impact adoption).<\/p>\n<p>This alteration occurred roughly a month subsequent to the International Monetary Fund (IMF) <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/12\/18\/pr-24485-el-salvador-imf-reaches-staff-level-agreement-on-an-eff-arrangement\">reached an agreement with officials in El Salvador<\/a> that included the following stipulations:<\/p>\n<ul>\n<li>El Salvador would obtain a $1.4 billion loan to assist the government\u2019s \u201creform agenda\u201d <\/li>\n<li>Risks associated with bitcoin would be addressed; bitcoin acceptance in the private sector must remain optional, while the public sector\u2019s involvement in Bitcoin-related endeavors would be \u201crestricted\u201d (bitcoin can no longer be utilized to settle government debts or remit taxes)<\/li>\n<li>Operations involving the government-created Bitcoin wallet, Chivo, would be \u201cdismantled\u201d<\/li>\n<\/ul>\n<p>Although the announcement of the Salvadoran government\u2019s retreat from its bitcoin legal tender policy due to IMF pressure resonates deeply with me, someone who isn\u2019t Salvadoran and doesn\u2019t reside in the nation, I continue to feel that El Salvador is still a Bitcoin nation.<\/p>\n<p>This sentiment has only intensified based on what I\u2019ve observed Bitcoin enthusiasts in El Salvador sharing on X.<\/p>\n<p>Evelyn Lemus, co-founder and Director of Education at <a href=\"https:\/\/www.meetup.com\/bitcoin_berlin\/\">Bitcoin Berlin<\/a>, a Bitcoin-centric circular economy in the region, intends to persist in instructing everyday Salvadorans about Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just putting it out there. <\/p>\n<p>Bitcoiners will not cease educating about Bitcoin and facilitating its adoption simply because Bitcoin is not legal tender anymore. It means we must keep pushing harder and continue our efforts \ud83c\uddf8\ud83c\uddfb  <\/p>\n<p>LFG\ud83d\ude4c <br \/>Bitcoin in the hands of the people \ud83e\udee1 <a href=\"https:\/\/t.co\/hnMpJmL5c7\">pic.twitter.com\/hnMpJmL5c7<\/a><\/p>\n<p>&mdash; Evelyn Lemus (@Evelynlemus2906) <a href=\"https:\/\/twitter.com\/Evelynlemus2906\/status\/1886140531236872625?ref_src=twsrc%5Etfw\">February 2, 2025<\/a><\/p><\/blockquote>\n<p>The crew at <a href=\"https:\/\/bitdriver.taxi\/\">Bit Driver<\/a> has no intentions of altering their business model \u2014 accepting bitcoin as payment for taxi rides \u2014 anytime soon.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We&#039;re still a Bitcoin company.<\/p>\n<p>&mdash; Bitdriver (@bitdriver_sv) <a href=\"https:\/\/twitter.com\/bitdriver_sv\/status\/1886185460726194462?ref_src=twsrc%5Etfw\">February 2, 2025<\/a><\/p><\/blockquote>\n<p>Although <a href=\"https:\/\/bitcoinmagazine.com\/el-salvador-bitcoin-news\/bitcoin-education-can-change-the-world-mi-primer-bitcoin-my-first-bitcoin\">John Dennehy, founder of Mi Primer Bitcoin<\/a>, conveyed his apprehension about the El Salvador government\u2019s reversal on bitcoin as legal currency, he along with the expanding team at Mi Primer Bitcoin intend to strengthen their commitment to their initiatives.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Good morning from El Salvador!<\/p>\n<p>We are now on DAY NINE since the government revoked Bitcoin as legal tender, at the behest of the IMF (effective after 90 days)<\/p>\n<p>This means grassroots, independent Bitcoin education is now MORE crucial than ever<\/p>\n<p>In response, at\u2026 <a href=\"https:\/\/t.co\/iTXdf0gAoL\">pic.twitter.com\/iTXdf0gAoL<\/a><\/p>\n<p>&mdash; John Dennehy (@jdennehy_writes) <a href=\"https:\/\/twitter.com\/jdennehy_writes\/status\/1887909061837967859?ref_src=twsrc%5Etfw\">February 7, 2025<\/a><\/p><\/blockquote>\n<p>The renowned <a href=\"https:\/\/www.youtube.com\/watch?v=55H-aVSgWpo\">Max and Stacy<\/a> have yet to publicly communicate any intentions to abandon El Salvador in the near future.<\/p>\n<p>Furthermore, <a href=\"https:\/\/bitcoinmagazine.com\/business\/el-salvadors-bitcoin-office-celebrates-21-months-of-success-sets-stage-for-renaissance-2-0\">El Salvador\u2019s Bitcoin Office, overseen by Stacy<\/a>, continues to accumulate bitcoin and facilitate Bitcoin educational programs nationwide.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83c\uddf8\ud83c\uddfbEL SALVADOR STACKS ANOTHER 1 BTC TO STRATEGIC RESERVE<\/p>\n<p>El Salvador is still stacking. <\/p>\n<p>Every day. <\/p>\n<p>\u27a1\ufe0fTotal SBR Holdings:  6,071.18 BTC                  <br \/>\u27a1\ufe0fTotal Added Today: +1 BTC        <br \/>\u27a1\ufe0fTotal Added Past 7 Days:  +22 BTC            <br \/>\u27a1\ufe0fTotal Added Past 30 Days:  +60 BTC\u2026 <a href=\"https:\/\/t.co\/y4kv2693BX\">pic.twitter.com\/y4kv2693BX<\/a><\/p>\n<p>&mdash; The Bitcoin Office (@bitcoinofficesv) <a href=\"https:\/\/twitter.com\/bitcoinofficesv\/status\/1887927389788700862?ref_src=twsrc%5Etfw\">February 7, 2025<\/a><\/p><\/blockquote>\n<p>The takeaway here is that while the regulations concerning Bitcoin may have transformed in El Salvador, the Bitcoin enthusiasts present in the country have hardly wavered.<\/p>\n<p>Because <a href=\"https:\/\/bitcoinmagazine.com\/takes\/frank-we-are-bitcoin\">we are Bitcoin<\/a>, what remains most significant is that everyday Salvadorans and all participants in the Bitcoin movement in El Salvador persistently strive to advance the Bitcoin mission.<\/p>\n<p>The IMF may have struck a blow, but Bitcoiners in El Salvador remain resolute in their endeavors to promote widespread Bitcoin acceptance.<\/p>\n<p>El Salvador is still Bitcoin nation.<\/p>\n<p><em>This article represents a <\/em><a href=\"https:\/\/bitcoinmagazine.com\/takes\/bitcoin-magazine-introduces-opinion-takes\"><em>Take<\/em><\/a><em>. Views expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/takes\/el-salvador-is-still-bitcoin-country\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Connect with Frank on X. El Salvador remains a Bitcoin nation, even though bitcoin is no longer recognized as legal tender in the nation \u2014 at least from my perspective. Let\u2019s begin with some context regarding this situation. On January 29, 2025, the Legislative Assembly of El Salvador made a decision to revoke bitcoin&#8217;s legal<\/p>\n","protected":false},"author":3,"featured_media":7620,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[1189],"class_list":["post-8278","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-el-salvador-is-still-bitcoin-country-gpt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>El Salvador: The Heartbeat of Bitcoin Enthusiasm - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/02\/07\/el-salvador-the-heartbeat-of-bitcoin-enthusiasm\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador: The Heartbeat of Bitcoin Enthusiasm - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"Connect with Frank on X. 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