I still don't understand what the main point of the IMF is against El Salvador buying BTC. What is the risk that they consider worthy enough to make a big tantrum over this? They are stacking an assets and that's all. Other countries stack gold, like China and Russia. Why is this not a problem, while BTC is? Is it because it is too easy to send across the globe and bypass sanctions? Is it because it undermines the petrodollar as a reserve currency? I don't get it, so I would like the official stance, and what do they really mean by that explained.
It would be lame to compare bitcoin with gold at this stage, as gold has been considered a proven safe haven for thousands of years while bitcoin is a fairly new, volatile and more speculative asset.
BTC also does not weaken USD, if it was a threat to USD, do you think US would accept it?
We are bitcoin investors and we are very sensitive and upset when someone badmouths BTC or restricts it. But if we are realistic and fair, we cannot deny that investing in bitcoin also has certain risks, especially when it comes to the country's economy.
Not to mention, if it were you, would you be willing to lend someone a large sum of money when you weren't sure if they could repay you? You will have to ask thousands of questions and make a series of requests before lending them money. Likewise, the IMF is a lender and needs to ensure that debtors can repay their debts.