More than a year after El Salvador codified bitcoin as legal tender for the Latin American nation, the “orange pill” has put the country in the international spotlight In late September, 41-year-old Salvadoran President Nayib Bukele wrote an opinion editorial aimed at detractors who thought it was the wrong decision, those who thought it was a good decision but for the wrong reasons, and opponents who “fear our decision.”
Naib Boukele’s opinion editorial tells us to “stop drinking the elite’s Kool-Aid”
according to Salvador’s presidentNaib Boukere (19) According to Salvadoran President Naib Boukere (19), if the Bitcoin experiment in which his country is participating is successful, many other countries around the world will follow this Latin American nation. Buchelet stated this in an opinion editorial he recently wrote,Stop Drinking Elite’s Kool-Aid,” in an editorial entitled “Stop Drinking Elite’s Kool-Aid,” published in English and Spanish on September 30, 2022. In the editorial, Bucheret criticized commentators from all three camps, many of whom he believes are simply afraid of El Salvador’s innovative decisions.
“Those who oppose us most vocally, those who fear and pressure us to overturn our decision, are the world’s powerful elites and those who work for them and benefit from them,” Bucheret explains in the article.
“They are the media, banks, NGOs, international organizations, and most governments and corporations around the world.
Bukhele also reported that media outlets such as “Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times, and The Washington Post” have published that “the entire country’s economy has lost $50 million in destroyed,” denying many headlines. President Salvador says that claim is a bluff, mostly because the country has not sold a single bitcoin since it began acquiring a stash ofBTC.
“So the claim that we lost $50 million worth of bitcoin is false, because we simply have not sold any bitcoin,” Bukele’s editorial claims.” And even if we accept that argument as true, it would be strange to conclude that our economy grew by 10.3%, or $4 billion, in 2021, but that $28 billion a year would be lost or defaulted because of a 0.2% “loss” in one year.” This is using the IMF’s own figures.”
Bucherer’s opinion further adds.
In 2021, GDP grew by 10.3%, tourism revenues by 52%, employment by 7%, new businesses by 12%, exports by 17%, energy generation by 19%, energy exports by 3291%, and internal revenues by 37%, all without tax increases. And this year, the crime rate and homicide rate dropped 95%.
President says “El Salvador is the epicenter of Bitcoin adoption”
Salvadoran bureaucrats understand that Bitcoin is a very big experiment and it is unreasonable to claim the country has already failed He details how he believes it has already failed. His recent remarks are similar to when Satoshi, the inventor of Bitcoin, said, ” I think in 20 years there will either be a very large volume of transactions or there won’t be.” Likewise, El Salvador is in on this grand experiment, and time will tell if this Latin American country’s gamble succeeds or fails. If it succeeds, Bucheret argues in his editorial, many countries will follow El Salvador’s lead.
“El Salvador is the epicenter of the introduction of Bitcoin, and thus of economic freedom, financial sovereignty, resistance to censorship, non-confiscatory wealth, and the kingmakers, their printing, devaluation, interest groups, elites, oligarchs, and those pulling their strings in the shadows behind them. It is the end of the reallocation of the wealth of the majority,” Bukele’s article concludes. If El Salvador succeeds, many other countries will follow.” If El Salvador fails in some way, we will reject it, but no country will follow.” Bucherer’s article concludes.
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