Latest News

El Salvador’s president Believes Massive acceptance of Bitcoin (BTC) Is “game over for FIAT.”

Nayib Bukele, the President of El Salvador, took to Twitter once more to assert Bitcoin’s dominance, but this time he added that once Bitcoin’s mass acceptance is complete, “it’s game over for FIAT.” Because of his continuous Bitcoin purchases and absolute pro-Bitcoin statements, President Bukele has maintained a permanent spot in the press headlines.

Bukele added in his tweet that because El Salvador was the first government to implement Bitcoin Legal Tender, it received a lot of criticism from international organizations, who dubbed the country “The Bitcoin Experiment.”

Nonetheless, he emphasized that, although the rest of the world looked down on them as a ‘experiment,’ El Salvador was transforming its economy through widespread Bitcoin adoption.

Furthermore, Bukele states that once Fiat is from the equation in favor of Bitcoin’s absolute global dominance. Then, El Salvador will become as “the spark” that sparked “the real revolution.”

“What has been called by international organizations as “The #Bitcoin Experiment”, is nothing more than the world watching how mass adoption changes a country’s economy.”

“If it’s for the good, it’s game over for FIAT.”

“El Salvador is the spark that ignites the real revolution.”
— Nayib Bukele 🇸🇻 (@nayibbukele) December 23, 2021

Despite widespread international criticism, President Bukele has retained his belief in Bitcoin.

There have been and continue to be instances against El Salvador’s Bitcoin adoption. Which, ranges the International Monetary Fund (IMF) warning El Salvador against making Bitcoin legal tender. Then, to the infamous anti-crypto and pro-gold Stock Broker, Peter Schiff. More so, calling Salvador’s BTC investments a waste of ‘the taxpayers hard earned income.’

Despite the criticism and numerous market crashes, the country bought every Bitcoin dip in 2021. Then, and profited from it, marking a watershed moment in the crypto ecosystem.

Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.