El Salvador president says Bitcoin mass adoption changes the economy

Nayib Bukele shared his happiness on Twitter to adopt Bitcoin by targeting the critics, who criticized El Salvador for adopting Bitcoin as Currency. 

On 7 September, El Salvador adopted Bitcoin fully as a legal tender officially. In the very starting, El Salvador faced much criticism for this decision but in the end, they passed the bill to adopt Bitcoin as legal tender. 

On 24 December, Nayib Bukele, president of El Salvador, took to Twitter to share his thoughts on how the country is growing with Bitcoin adoption. 

Nayib wrote that the world is now watching how the country is growing its economy with Bitcoin adoption. And now the game is over for fiat currency. 

Nayib targeted almost all the critics of Bitcoin adoption, whether they were/are from inside or outside of El Salvador. 

International Monetary Fund on Bitcoin adoption 

The International Monetary Fund (IMF) published a report when El Salvador decided to adopt Bitcoin as a legal tender and called the adoption of Bitcoin as currency a type of experiment.

However, the IMF report didn’t mention the name of any country but actually, they were targeting El Salvador. 

In September speaking on the University of Cambridge Students’ Union, Andrew Bailey, governor of the Bank of England, also criticized El Salvador for adopting Bitcoin. 

However, Bailey is a popularly known critic of Bitcoin but his argument on El Salvador’s adoption of Bitcoin was a type of hammer on Nayib Bukele. 

Bitcoin critics are not stopping to criticize El Salvador and president Nayib Bukele. But still, Nayib Bukele is continuously doing work for Bitcoin and Bitcoin-related initiatives. 

On Tuesday, El Salvador bought 21 Bitcoins to celebrate the last “21st day of the year 21 of the 21st century”. This way of celebrating special occasions by El Salvador showed that Bitcoin is not only an asset or Currency but it is a tool to show freedom and happiness.

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