“We Have to do What You Do, Not What You Say”: El- Salvador President

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“We Have to do What You Do, Not What You Say”: El- Salvador President
  • Nayib Bukele spoke to the international community and requested their support for development.
  • Under his presidency, he made El Salvador the first country to adopt Bitcoin as a legal tender.
  • Last year, he vowed to buy one Bitcoin per day for the country’s monetary system.

President of El Salvador and Bitcoin advocate Nayib Bukele, spoke to representatives of many other countries in a gathering that was called. Referring to the representatives of the well developed countries, Bukele stated:

 To be like you, we have to do what you do, not what you tell us to do.

Furthermore, on his official twitter account, Bukele posted a video where he confirms his country’s desire to progress, just like other countries are doing and have done in the past. He also recognized his country’s limits and called for the international community to support the underdeveloped nation.

As a Bitcoin maximalist Bukele made El Salvador the first country in the world to adopt Bitcoin as a legal tender. As such, the securities laws in El Salvador consider Bitcoin as money, not securities. The official Bitcoin office that Bukele opened, recently announced that they will be issuing Bitcoin Volcano Bonds.

In 2022, Bukele vowed to buy one Bitcoin per day. As of today, he has purchased over $150 million worth in Bitcoin for the country’s development. While many international news outlets weren’t so optimistic about his cryptocurrency bet — saying that the country would go broke and default on its $800 million debt by January 2023, last week he posted on social media that El Salvador managed to pay the totality of its debt plus interests.

His government, in terms of approval, ranks the highest among all Latin American countries. It seems Bitcoin adoption has paid off for the Central American nation so far, will other countries in the region follow El Salvador’s footsteps?

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