Started from the bottom now we’re here. Analyzing El Salvador’s Bitcoin adoption in 2021, the wins the challenges, and what could be expected this year.
a 24-hour Bitcoin news network, and other crypto-related developments in the country. There is little indication that the president has moved past self-identifying as the world’s “coolest dictator” — a Twitter bio that he later changed to the “CEO of El Salvador.”who had spoken out against the country adopting Bitcoin as legal tender.
“The crypto community embracing Bukele of all people shows that they need to think a little harder. [...] This guy’s an authoritarian who can’t provide basic services to his citizens,”. “[El Salvador has] one of the highest murder rates in the world. He seems to think you can get power by plugging your Apple charger into a volcano somehow. Don’t try to sell us on a literal volcano-fueled tech utopia city — let’s just start a little smaller.
At the end of 2021, it was still unclear whether the average citizen of El Salvador was reaping many rewards from the Bitcoin Law. Bukele did announce in October that animals would benefit from crypto with thefunded by profits from the country’s Bitcoin trust. However, it’s likely the Latin American nation is still struggling to cope with the crypto asset’s volatility when used as a medium of exchange as well as gaining mainstream understanding and acceptance from its populace.
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