El Salvador, a country in Central America, made a big deal with the International Monetary Fund (IMF), a group that helps countries with their money. The IMF gave El Salvador a lot of money ($1.4 billion!) to help its economy. But there's a catch! El Salvador had been using Bitcoin, a type of digital money, but the IMF wanted El Salvador to use the U.S. dollar more.
- El Salvador will stop letting people pay taxes with Bitcoin.
- The government won't buy or mine any more Bitcoin.
- Using Bitcoin in El Salvador will be optional, not required.
| Fact | Number |
|---|---|
| IMF loan amount | $1.4 billion |
| Mentions of 'Bitcoin' in IMF report | 221 |
| El Salvador's Bitcoin holdings (approx.) | 6,100 BTC |
This means less use of Bitcoin in El Salvador, but helps its economy get better. Even though the President recently bought more Bitcoin, the future of Bitcoin in El Salvador is uncertain.
