- El Salvador’s President criticized BTC detractors in a recent editorial.
- He said that the world’s most elite are scared of El Salvador’s innovative decisions.
- El Salvador codified BTC as a legal tender in 2021.
In September 2021 El Salvador made itself international news by making Bitcoin a legal tender in Latin America, forcing all businesses to accept cryptocurrency. After receiving much negative feedback from Bitcoin detractors, he penned his opinion in Bitcoin Magazine’s “Stop Drinking The Elite’s Kool-Aid.”
Aiming at those who take El Salvador’s decision to be wrong, President Nayib Bukele said,
The most vocal detractors, the ones who are afraid and pressuring us to reverse our decision, are the world’s powerful elites and the people who work for or benefit from them.
Further criticizing three camps of detractors who simply fear El Salvador’s innovative decisions, the President justifies, “they used to own everything,” and still continue to own everything from the media to the banks, the NGOs, the international organizations, as well as all the governments and corporations in the world.
In addition, President Bukele confirms that articles published by Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times, and The Washington Post claiming that El Salvador’s economy is devastated by a $50 million loss are, in fact, false.
The president believes that the headlines are targeting the nation as they have chosen not to sell a single bitcoin ever since they started obtaining Bitcoin reserves. He emphasizes that an economy of $28 billion, which grew by 10.3% in 2021, will not go bankrupt due to a 0.2% loss.
According to Bukele El Salvador is acquiring economic freedom, financial sovereignty, censorship resistance, and unconfiscatable wealth by becoming the epicentre of Bitcoin adoption. Hence, he anticipates many “interests groups, elites, and oligarchs pulling their strings.”
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