Salvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’ – Bitcoin News

It’s been more than a year since El Salvador tokenized bitcoin as legal tender in the Latin American country, and by tossing the ‘orange pill’ the country has been brought to the international stage. In late September, the 41-year-old Salvadoran president Nayib Bukele wrote an editorial aimed at his detractors, who thought it was a wrong decision, who thought it was a bad decision. right, but for the wrong reasons, and opponents. who “fears our decision.”

Nayib Bukele’s Opinion Editorial advises people to ‘Stop drinking Elite’s Kool-Aid’

According to President Salvadoran Nayib Bukele, if the bitcoin experiment his country is participating in is successful, a large number of other countries worldwide will follow in the footsteps of Latin American countries. Bukele said this in a recently written opinion piece called “Stop drinking Elite’s Kool-Aid,” Published on September 30, 2022, in English and Spanish. In the editorial, Bukele criticized three detractors, and he believed that most of them were simply afraid of El Salvador’s innovative decisions.

Bukele explains in her article: “The most powerful detractors, those who fear and pressure us to reverse our decisions, are the world’s powerful elites and those people who work for or benefit from them. “They used to own everything, and the way they do; media, banks, NGOs, international organizations and most governments and corporations around the world. “

Bukele also denied many headlines published by the media such as “Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times and The Washington Post” stating that ” The whole country’s economy was destroyed by a loss of $50 million. President Salvadoran said that the claims are balances and mainly because the country has not sold a single bitcoin since it started buying back. BTC.

“So the argument that we lost $50 million worth of bitcoins is false, because we simply did not sell any bitcoins,” the Bukele editorial emphasized. “And even if we accept that argument as true, it would be ridiculous to conclude that an economy worth $28 billion a year would go bankrupt or default on a 0.2% ‘loss’ in a year, when in 2021 our economy grows 10.3%, or $4 billion. This is using the IMF’s own numbers. “

Bukele’s comments section adds:

In 2021, our GDP will increase by 10.3%, income from tourism will increase by 52%, employment will increase by 7%, new businesses will increase by 12%, exports by 17%, energy production by 19%, exports Energy exports rose 3,291% and internal sales rose 37%, all without a tax increase. And this year, crime and homicide rates have dropped by 95%.

President Says ‘El Salvador is at the heart of Bitcoin adoption’

The Salvadoran official detailed that he understands that bitcoin is a huge experiment and that he believes it is absurd to claim that the country has failed. His recent statements are similar to those of the inventor of Bitcoin, when Satoshi said: “I am sure that in 20 years there will be very high volume or no volume.” Similarly, El Salvador has taken the big test and time will tell whether the Latin American nation’s bet succeeds or fails. If it succeeds, Bukele’s editorial asserts that many countries will follow El Salvador’s lead.

“El Salvador is at the heart of Bitcoin adoption, and thus economic freedom, financial sovereignty, censorship resistance, undisclosed wealth and the end of kings, the printing, devaluation, and redistributing the wealth of the majority to interest groups, elites, oligarchs, and those in the shadows behind them,” Bukele’s article concludes. “If El Salvador succeeds, many countries will follow. If El Salvador somehow fails, which we refuse, then no other country will follow.”

Cards in this story

Atlantic Council, Accept bitcoins, Bitcoin Law, bitcoin law el salvador, Bitcoin wallet, bitcoin el salvador, Kool-aid of the elite, Fitch Rating, IMF, Nayib Bukele, Nayib Bukele bitcoin, Law on Bidding Nayib Bukele, Editing comments, President of Salvador, Ukraine Russia conflict, Volcanic Bonds

What do you think of the recent opinion piece by Salvadoran president Nayib Bukele? Let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a fintech journalist living in Florida. Redman has been an active member of the crypto community since 2011. He has a passion for Bitcoin, open source, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the disruptive protocols emerging today.

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