El Salvador has officially abandoned Bitcoin as legal tender, as mandated by the International Monetary Fund (IMF) in exchange for a loan of $1.4 billion. Despite this, the government plans to continue accumulating Bitcoin for its reserves and maintains that businesses and individuals can still accept or use Bitcoin at their discretion. Critics of the IMF have pointed out that the decision to abandon Bitcoin seems more politically motivated than a genuine failure of the cryptocurrency itself. Most commentators agree that Bitcoin's functioning as a currency faces substantial challenges, particularly due to its deflationary nature, which hampers daily usability. Some commenters highlight the innovative spirit of El Salvador's government in experimenting with new economic models, though they also stress the difficulties inherent in trying to use Bitcoin as a mainstream currency. In essence, while the official status of Bitcoin has changed, El Salvador's engagement with cryptocurrency may continue in other forms.