It’s been over a 12 months since El Salvador codified bitcoin as authorized tender within the Latin American nation, and by popping the ‘orange pill,’ the nation was propelled into the worldwide highlight. On the finish of September, the 41-year-old Salvadoran president Nayib Bukele penned an opinion editorial that takes intention on the detractors who suppose it was the unsuitable choice, those that suppose it was an excellent choice however for the unsuitable causes, and opponents who “are afraid of our decision.”

Nayib Bukele’s Opinion Editorial Tells Individuals to ‘Stop Drinking the Elite’s Kool-Support’

In line with Salvadoran president Nayib Bukele, if the bitcoin experiment his nation is taking part in succeeds, a large number of different nations worldwide will observe within the Latin American nation’s footsteps. Bukele stated this in a just lately penned opinion editorial known as “Stop Drinking the Elite’s Kool-Aid,” which was revealed on September 30, 2022, in English and Spanish. Within the editorial, Bukele criticized three camps of detractors and he believes that the majority of them are merely afraid of El Salvador’s revolutionary selections.

“The most vocal detractors, the ones who are afraid and pressuring us to reverse our decision, are the world’s powerful elites and the people who work for or benefit from them,” Bukele explains in his article. “They used to own everything, and in a way they still do; the media, the banks, the NGOs, the international organizations, and almost all the governments and corporations in the world.”

Bukele additionally denies the numerous headlines revealed by media shops similar to “Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times, and The Washington Post” that declare the “whole country’s economy was destroyed by a $50 million loss.” The Salvadoran president says the claims are baloney and largely as a result of the nation has not bought a single bitcoin because it began buying a stash of BTC.

“So the argument that we have lost $50 million worth of bitcoin is false, because we simply have not sold any bitcoin,” Bukele’s editorial insists. “And even if we were to accept that argument as true, then it would be ridiculous to conclude that an economy of $28 billion per year will go bankrupt or into default because of a 0.2% ‘loss’ in one year, when in 2021 our economy grew 10.3%, or by $4 billion. This is using the IMF’s own numbers.”

Bukele’s opinion piece additional provides:

In 2021, our GDP rose 10.3%, earnings from tourism rose 52%, employment went up 7%, new companies up 12%, exports up 17%, vitality era up 19%, vitality exports went up 3,291%, and inner income went up 37%, all with out elevating any taxes. And this 12 months, the crime and homicide price have gone down 95%.

President Says ‘El Salvador Is the Epicenter of Bitcoin Adoption’

The Salvadoran bureaucrat particulars that he understands that bitcoin is a really giant experiment and he believes it’s absurd to assert that the nation has already failed. His latest statements are much like Bitcoin’s inventor, when Satoshi stated: “I’m sure that in 20 years there will either be very large transaction volume or no volume.” Equally, El Salvador has joined the grand experiment and time will inform if the Latin American nation’s guess succeeds or fails. If it does succeed, Bukele’s editorial asserts that many nations will observe El Salvador’s lead.

“El Salvador is the epicenter of Bitcoin adoption, and thus, economic freedom, financial sovereignty, censorship resistance, unconfiscatable wealth, and the end of the kingmakers, their printing, devaluating, and reassigning the wealth of the majorities to interests groups, the elites, the oligarchs, and the ones in the shadows behind them, pulling their strings,” Bukele’s article concludes. “If El Salvador succeeds, many countries will follow. If El Salvador somehow fails, which we refuse to, no countries will follow.”

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com News concerning the disruptive protocols rising at this time.


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