The International Money Fund is bullying El Salvador to drop BTC as legal tender. They're scared of what's coming!

The news just dropped : the International Monetary Fund (IMF), just "urged" El Salvadorian authorities to fully drop Bitcoin as legal tender.

As written in this article, the higher-ups at the IMF told the small country that "there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities". The IMF is now witholding a $1.3 billion USD loan to exert pressure on the country.

First, I find this stance pretty rich coming from an institution notorious for hurting countries it claims to help.

But I also think the IMF is starting to realize that Bitcoin indeed have the potential to benefit the unbanked population of the world, and it's something they don't like.

Just think about it. About 70% of El Salvadorians don't even have access to a bank account. For them, Bitcoin is pretty much the only way to send and receive payment. Now, what has the IMF done for those people? Nothing. And the rise of cryptocurrencies is threatening their iron grip on finance, so they bully countries that are trying to help their population.

People everywhere in the world will soon realize that the economic game is rigged against them. Bitcoin, and cryptocurrencies in general, solves part of this problem. The IMF hates that, because it serves the elite, and that explain the news today.

I think in the long run, this effort will backfire. What do you think?