El Salvador president pokes popular Bitcoin critic Peter Schiff


Nayib Bukele and the chief executive officer of Binance crypto exchange responded to a very old tweet from Peter Schiff. 

Peter Schiff is an economist and Global strategist. No doubt that he is talented at his level but his identity in the Crypto industry is only a “popular Bitcoin critic”. Peter keeps posting negative statements and points of view against Bitcoin & Cryptocurrencies. 

On 18 January, Peter Schiff tweeted about Bitcoin and criticized Bitcoin bull El Salvador president Nayib Bukele & Microstrategy CEO Micheal Saylor. Peter said that Saylor and Nayib have no choice but to dump their BTC holdings if the price falls further. 

On 7 July,  Nayib Bukele responded to that tweet of Bitcoin critic and asked “How is your bank going”. 

Further Changpeng Zhao, CEO & founder of top-ranked crypto exchange Binance, shared a meme and suggested Nayib to attach a meme, which will fit perfectly against that tweet. 

El Salvador, Bitcoin & Criticism

On 7 September 2021, El Salvador adopted Bitcoin as a currency legally. Initially, El Salvador president Nayib faced huge criticism from many government and non-government agencies of other countries for his decision to give legal approval to bitcoin. 

The majority of the Bitcoin critics were calm before early 2022 but when the price of Bitcoin plunged below 70% from the all-time high value then critics again started to ask questions. The majority of the people claimed that the El Salvador government is only using public money to invest in Bitcoin.

Once the International Monetary Fund (IMF) suggested El Salvador drop the legal tender status of Bitcoin but El Salvador government officials directly refused to follow any kind of such guidelines.

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