{"id":385339,"date":"2021-12-24T12:32:27","date_gmt":"2021-12-24T09:32:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/president-bukele-fires-back-at-critics-on-bitcoin-experiment\/"},"modified":"2021-12-24T12:32:27","modified_gmt":"2021-12-24T09:32:27","slug":"president-bukele-fires-back-at-critics-on-bitcoin-experiment","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/president-bukele-fires-back-at-critics-on-bitcoin-experiment\/","title":{"rendered":"# President Bukele fires back at critics on &#8216;Bitcoin experiment&#8217;"},"content":{"rendered":"<p>&#8220;<strong># President Bukele fires back at critics on &#8216;Bitcoin experiment&#8217; <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvMmFlMDEwYTEtNDNlNy00NzY3LTljNTgtMTQ3ZmMxZmE0NzFmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>On Thursday, President Nayib Bukele of El Salvador <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1474119003169865728\">reaffirmed<\/a>\u00a0his belief forBitcoin (BTC) supremacy on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> once again, this time stating that after widespread adoption occurs, &#8220;it&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> over for fiat.&#8221;<\/p>\n<p>The Salvadoran president has been a mainstay in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> headlines due to his regular BTC purchases and absolute pro-Bitcoin stance. He has made frequent statements and comments to support the original cryptocurrency while refusing to budge in the face of criticism that Bitcoin is a bad idea for the nation.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> El Salvador buys a smokin\u2019 hot 420 more Bitcoin<\/em><\/strong><\/p>\n<p>President Bukele&#8217;s recent tweet comes as the international community launches a barrage against El Salvador for its &#8220;Bitcoin experiment.&#8221;<\/p>\n<p>The IMF criticized El Salvador&#8217;s move to adopt Bitcoin\u00a0as legal tender\u00a0in June, but the country nevertheless passed it and began accepting BTC as legal money in September. Governor of the Bank of England, Andrew Bailey, is a\u00a0known critic of Bitcoin. More recently, while speaking at the University of Cambridge Students&#8217; Union, Bailey expressed his concerns over El Salvador&#8217;s decision to use Bitcoin as a currency due to its extreme volatility.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">What has been called by international organizations as \u201cThe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Experiment\u201d, is nothing more than the world watching how mass adoption changes a country\u2019s economy.<\/p>\n<p>If it\u2019s for the good, it\u2019s game over for FIAT.<\/p>\n<p>El Salvador is the spark that ignites the real revolution.<\/p>\n<p>\u2014 Nayib Bukele  (@nayibbukele) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1474119003169865728?ref_src=twsrc%5Etfw\">December 23, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nHowever, Bukele fired back at his critics, pointing out that while the rest of the world regarded El Salvador as a &#8220;Bitcoin experiment,&#8221; they were transforming their economy with Bitcoin mass adoption. Bukele also claimed that when fiat is no longer a factor compared to the BTC dominance, El Salvador will be regarded as the spark that starts the real revolution.<\/p>\n<p>Since adopting Bitcoin as legal currency, El Salvador has used Bitcoin profits or the &#8220;surplus&#8221; from its Bitcoin Trust account to\u00a0finance the construction of 20 schools.\u00a0In mid-October, Bukele announced that the government would spend $4 million from the Bitcoin Trust to\u00a0build a new veterinary hospital in San Salvador.<\/p>\n<p>President Bukele&#8217;s latest riff comes as El Salvador recently\u00a0bought 21 BTC\u00a0on Tuesday to celebrate the \u201clast 21st day of the year 21 of the 21st century\u201d and commemorate the scarcity of Bitcoin as its supply is limited by 21 million BTC.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/president-bukele-fires-back-at-critics-on-bitcoin-experiment\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# President Bukele fires back at critics on &#8216;Bitcoin experiment&#8217; &#8221; On Thursday, President Nayib Bukele of El Salvador reaffirmed\u00a0his belief forBitcoin (BTC) supremacy on Twitter once again, this time stating that after widespread adoption occurs, &#8220;it&#8217;s game over for fiat.&#8221; The Salvadoran president has been a mainstay in news headlines due to his regular&#8230;<\/p>\n","protected":false},"author":1,"featured_media":385340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvMmFlMDEwYTEtNDNlNy00NzY3LTljNTgtMTQ3ZmMxZmE0NzFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,75582,74355,90059,73711,70934],"class_list":["post-385339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-fiat-money","tag-adoption","tag-el-salvador","tag-investments","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/385339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=385339"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/385339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/385340"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=385339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=385339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=385339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}