“If El Salvador Succeeds, Every Country Will Follow”, Asserts President Bukele as Bitcoin’s Price Soars

El Salvador’s pro-bitcoin president Nayib Bukele has continued to defend his administration from attacks, telling off detractors who wish to pressure and reverse his socio-economic policies and Bitcoin agenda.

Addressing El Salvador’s Bitcoin FUD in a recent article, Bukele lambasted the so-called powerful elites of the world and those who work for them for attempting to distort the truth about his nation through media, banks, NGOs and other entities they control. 

The 41-year-old leader went on to label the numerous stories put out by legacy media outlets about how Bitcoin has destroyed his nation’s economy as “false”. According to him, even if El Salvador lost $50 million selling Bitcoin as they claimed, it was foolish for far-right activists and media to claim such an amount could ruin the nation’s economy.

“El Salvador is a relatively poor country, but it produced $28 billion in goods and services in 2021 alone. The idea that a loss of $50 million, less than 0.2% of GDP, would destroy or even impoverish the country’s economy is a foolish hope circuit,” he said.

According to Mr Bukele, it was preposterous for international media outlets to advance such ignorant claims instead of focusing on massive positive changes that his administration has brought. “Did you know where El Salvador was on the map a few years ago?” he went on, highlighting the country’s 37% growth in revenue and a 95% decrease in crime rate in the past year under his stewardship.

Notably, Mr Bukele recently received an 86% approval rating from a survey of 12 Latin American countries, making him the most popular leader in the region, despite the alleged rights violations and reports of large anti-bitcoin protests in El Salvador.

Concluding, Mr Bukele called on his detractors to “stop the guerilla farming” of El Salvador, inviting them to go and see the nation’s transformation firsthand.

“El Salvador is the final kingmaker for economic freedom, financial sovereignty, censorship resistance, non-violent asset inclusion, money printing, devaluation, and the elites and the people behind them pulling the strings. If El Salvador succeeds, many countries will follow. If El Salvador fails, no country will follow. They understand this, and that is why they are fighting us so hard.” He said.

The latest comments come after El Salvador paid off an $800 million maturing bond plus interest last week. In a series of tweets then, Mr Bukele hit out at a legacy international news outlet for previously reporting in “literally hundreds of articles” that the nation would default because of its bitcoin bet.