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El Salvador made headlines in September 2021 as the first country to accept bitcoin as its official legal tender. The announcement is a new milestone in the widespread adoption of cryptocurrency.
Since then, however, the results have been mixed. On one hand, the IMF noted that risks related to the experiment have not been realized. On the other hand, the adoption of bitcoin by the Salvadoran population remains low—and the country has lost around $60 million, according to CNBC.
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