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# Surprising turn in El Salvador! Bitcoin loses its status as official coin
The news that shook the crypto community: El Salvador has just revoked Bitcoin's status as legal tender after almost 4 years. The reason? Pressure from the IMF to obtain a $1.4 billion loan.
Do you remember when President Nayib Bukele turned El Salvador into the Bitcoin paradise in 2021? Well, that ended on February 2, 2025. Now Bitcoin is no longer the official coin, but don't worry: people can still use it if both parties agree, it's just not valid for paying taxes.
**The interesting thing about the drama:**
- Bitcoin loses legal status but continues to be accepted voluntarily
- The IMF vs Bukele: a battle won by the Monetary Fund
- Most Salvadorans never fell in love with Bitcoin due to its volatility.
- The government continues to buy Bitcoin ( now 2 BTC daily, double what was planned )
BTC is at $97,127, down 3.68% in 24h. Some see this as bullish in the long term (El Salvador continues to accumulate), others see it as the end of an ambitious experiment.
Reality: is it a failure or just a regulatory adjustment to access IMF funds?