El Salvador Officially Ends Its Bitcoin Standard … To Maximize Its Chances of Taking Full Advantage of the Bitcoin Revolution.

Sounds contradictory? Read my analysis to better understand the deal with the IMF.

The agreement between El Salvador and the IMF was reached at the end of 2024. To obtain financing from the IMF, El Salvador agreed to revise its Bitcoin law. No more Bitcoin Standard. Or almost, because you'll see that it's all about nuance here and that it's sometimes necessary to make compromises to keep moving forward and advance the Bitcoin revolution in one's own country.

Nayib Bukele understands this, as does the Legislative Assembly of El Salvador, which voted overwhelmingly to amend the “Bitcoin ley”. While this may be seen as a step backward for the adoption of Bitcoin as a means of payment in the country, it does not rule out the retention of Bitcoin as the mainstay of El Salvador's economic strategy.

Here's an analysis of the situation, trying to adopt as objective a stance as possible.