Nayib Bukele Defends Bitcoin’s Role in El Salvador: A Free Choice with Global Impact.
Bukele believes the slow pace of adoption is largely due to the fact that Bitcoin was introduced as a voluntary option rather than a mandatory currency. “In El Salvador, you can use Bitcoin to pay at various businesses like restaurants, supermarkets, and hotels. However, it has not been enforced as a compulsory method of payment,” Bukele explained. “People have had the choice to use Bitcoin, and those who have chosen to do so have seen benefits from its rising value.”
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Bukele's policies have attracted significant international attention, both positive and negative. Supporters claim that Bitcoin adoption could lead to financial inclusion and stimulate economic growth, while critics, including the International Monetary Fund (IMF), have raised concerns about the risks associated with such a volatile asset.
Bukele's policies have attracted significant international attention, both positive and negative. Supporters claim that Bitcoin adoption could lead to financial inclusion and stimulate economic growth, while critics, including the International Monetary Fund (IMF), have raised concerns about the risks associated with such a volatile asset.
Bukele's policies have attracted significant international attention, both positive and negative. Supporters claim that Bitcoin adoption could lead to financial inclusion and stimulate economic growth, while critics, including the International Monetary Fund (IMF), have raised concerns about the risks associated with such a volatile asset.
Bukele secured re-election with over 85% of the votes, which many interpret as a public endorsement of his Bitcoin policies. His administration has continued to push forward with ambitious projects, including the development of Bitcoin City, a tax-free zone powered by geothermal energy from the nearby Conchagua volcano
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