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President Nayib Bukele shoots at Bitcoin critics

 


As the President of El Salvador says, the introduction of Bitcoin has changed the economic landscape of his country.

President of El Salvador defends himself

Nayib Bukele, President of El Salvador, often made headlines due to the country's repeated Bitcoin purchases and his more than positive attitude towards Bitcoin. He has often made statements and comments about Bitcoin, while he has always steadfastly resisted speaking against bad criticism.

On Thursday, Bukele reaffirmed on Twitter that he believes in Bitcoin and its supremacy.

The latest tweet comes after the international community fires against El Salvador and its Bitcoin experiment.

“ What has been called“ The #Bitcoin Experiment ”by international organizations is nothing more than the world watching mass adoption transform a country's economy. If it's for a good thing, FIAT is game over. El Salvador is the spark that ignites the real revolution. ”

The International Monetary Fund criticized El Salvador's move to introduce Bitcoin as legal tender. Nevertheless, the country dared to take this step in September. Andrew Bailey, Governor of the Bank of England is known to be a bitcoin critic. More recently, during a speech at the University of Cambridge, Bailey expressed concern about El Salvador's decision. Bitcoin is too volatile for him to use BTC as a currency.

Bukele protested against these criticisms, pointing out that the rest of the world saw the whole thing as a Bitcoin experiment, but its economy was changed due to mass acceptance. He also claimed that his country will be seen as the spark that will start the real revolution when Fiat is no longer a factor compared to BTC's dominance.

Since the introduction of Bitcoin as legal currency, BTC has used profits or the surplus from its Bitcoin trust to fund the construction of 20 schools. In mid-October, the president announced that the government would be spending $ 4 million from the Bitcoin Trust to build a new animal hospital in San Salvador.

On Tuesday, December 21st, 2021, El Salvador bought an additional 21 BTC to celebrate the scarcity of BTC as its supply is limited to 21 million.

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