Neither ETH nor BTC are being utilised for anything other than "Money goes in, price goes up, weee more money should go in, I'm a financial genius"
It's incredibly difficult to see either instrument as a currency, or a share, or an asset other than the fact that other people will (at this point) buy it back off you for more than you paid for it.
The adoption was criticized both internationally and within El Salvador, due to the volatility of Bitcoin, its environmental impact, and lack of transparency regarding the government's fiscal policy. In 2024, El Salvador agreed to partially limit its involvement with Bitcoin as part of a deal made with the International Monetary Fund (IMF). In March 2025, The Economist wrote that El Salvador's bitcoin experiment had been a failure, bringing more costs than benefits to the El Salvador economy.[4]
In 2025, Bitcoin was rescinded as legal tender in El Salvador.[5] Besides the aforementioned problems and hacking incidents, research showed it was rarely used by the public.[5]
The Central African Republic has had similar (well worse really) experience
Comments
Neither ETH nor BTC are being utilised for anything other than "Money goes in, price goes up, weee more money should go in, I'm a financial genius"
It's incredibly difficult to see either instrument as a currency, or a share, or an asset other than the fact that other people will (at this point) buy it back off you for more than you paid for it.
FTR (because El Salvador is often mentioned because it had BTC as legal tender)
https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador
The Central African Republic has had similar (well worse really) experience