El Salvador, country of great crypto firsts, clings to its beloved bitcoin despite international criticism. Defying the rumbling IMF, President Nayib Bukele and his loyal vice-president Félix Ulloa are slamming the door on pressure, swearing loyalty to their digital currency. The approval of Bitcoin ETFs by the US SEC, like a bouquet of roses, reinforces this love.
Bitcoin in El Salvador: An unwavering commitment despite international pressure
In 2021, El Salvador created history by becoming the first country to adopt bitcoin as legal tender. A bold decision which, despite calls from the International Monetary Fund (IMF) to review this position during loan negotiations, remains unshakeable. Vice President Felix Ulloa, on temporary leave for the re-election of the outgoing president, reaffirmed this commitment, stressing that bitcoin would maintain its status as legal tender during Nayib Bukele’s second term.
I would be very concerned if we had your support.
Thank you. »
This tweet from President Bukele is a response to the publication by Minnesota Representative Ilhan Omar translated as follows:
“ I led members of Congress in sending a letter to Secretary Antony Blinken requesting that measures are taken to address the threats to democracy in El Salvador. »
According to Quincepethe Salvadoran government remains faithful to his vision, refusing to bend in the face of international pressure. The US SEC’s recent ruling on Bitcoin Spot ETFs has boosted the country’s confidence in its pro-crypto policies. El Salvador not just adopting bitcoin, but to go further with grandiose projects associated with cryptos. Bukele’s bold policies continue to inspire the nation despite external criticism.
Project to issue bonds and create a crypto-metropolis
Nayib Bukele, the bold president of El Salvador, is not sparing his ambitions regarding bitcoin. Despite criticism from the IMF and challenges related to accessing international financing, the government remains optimistic. Future projects include bitcoin-backed bonds launched in 2024 and the construction of Bitcoin CityA crypto tax haven. These initiatives, supported by Bukele’s New Ideas party, could be brought to fruition with an expected victory in the next elections.
El Salvador, a pioneer in adopting bitcoin as legal tender, seems to be reaping benefits. Data from Nayibtracker.com reveals that the country could make around $4 million in profits by selling its bitcoin (BTC) holdings at the current price.
Despite lingering doubts, Vice President Felix Ulloa says the government’s decision has global credibility with its lucky bitcoin. El Salvador, between challenges and dividends, continues to chart its path in the crypto world.
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