El Salvado Bitcoin policy undoscisitation: from ambitious to difficult transformation

In 2021, Salvador became the world's first country to list Bitcoin as a legal currency, but now it has moved to policy adjustments. This issue has in -depth analysis of this dramatic change. President Buckley promoted Bitcoin to become a legal currency. He wanted to take this unique economic path, but ended with failure. The government's request for the reform of the Bitcoin law, although retaining the "legal currency" statement, has canceled the mandatory obligation to accept Bitcoin payment. The El Salvador's acceptance of the initiative was extremely low, and 92%of the people did not use Bitcoin in 2024. Bakle's ambitious Bitcoin City plan has also been transformed into a bubble. Nevertheless, the government still plans to continue to bet on Bitcoin and reserve cryptocurrencies. What are the economic considerations and interests behind this? Let's find out among the podcasts.