Bitcoin Is Part of the Pitch As El Salvador Courts IMF Deal

El Salvador’s first-of-its-kind adoption of Bitcoin won’t be an obstacle for the government to reach a $1.3 billion loan agreement with the International Monetary Fund, according to the country’s central bank president.

The cryptocurrency will lose its reputation as a speculative asset and prove its use as a legitimate payment system, central bank President Douglas Rodriguez said in an interview on Monday. He even expects Bitcoin’s notorious price volatility to help the economy expand more than the 9 percent the bank forecasts it will this year.

“We don’t see any risks. Perhaps, upside risks,” Rodriguez said in a virtual interview from San Salvador. Bitcoin will “become a payment system, a system for financial inclusion.”