Market
What will be the status of El Salvador's Bitcoin policy by mid-2025?
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Resolution / Starting Odds
Voluntary acceptance • 25%
Mandatory acceptance • 25%
Bitcoin no longer legal tender • 25%
No change • 25%
Official government announcements or legislative updates from El Salvador
Story
El Salvador to Make Bitcoin Voluntary to Secure $1.3B IMF Loan in Weeks
Dec 9, 2024, 02:17 PM
El Salvador is set to scale back its ambitious Bitcoin policies to secure a $1.3 billion loan from the International Monetary Fund (IMF). The government plans to make Bitcoin acceptance voluntary for businesses, instead of mandatory, as part of the agreement. This policy adjustment aims to unlock additional international lending and finalize the loan deal within two to three weeks. The decision marks a significant shift in El Salvador's pioneering use of Bitcoin as legal tender, which was introduced in 2021 under President Nayib Bukele's administration. The IMF had previously expressed concerns over the risks associated with Bitcoin's mandatory acceptance, prompting the country to revise its stance.
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No longer legal tender • 33%
Remains legal tender • 33%
Voluntary use only • 33%
Remains legal tender • 25%
Restricted use • 25%
Completely banned • 25%
Other • 25%
Deregulation • 25%
Status quo maintained • 25%
Other • 25%
Increased regulation • 25%
Decreased Bitcoin adoption • 25%
Indeterminate impact • 25%
Stable Bitcoin adoption • 25%
Increased Bitcoin adoption • 25%
Revoked • 25%
Unchanged • 25%
Voluntary • 25%
Mandatory • 25%
Mixed policies • 25%
Prohibited acceptance • 25%
Mandatory acceptance • 25%
Voluntary acceptance • 25%
No longer legal tender • 25%
Remains legal tender • 25%
Voluntary for businesses • 25%
Other • 25%
Increase • 25%
No change • 25%
Moderate decrease • 25%
Significant decrease • 25%
Increased Tourism • 25%
Financial Instability • 25%
Other • 25%
Economic Growth • 25%
No • 50%
Yes • 50%
