![\"Salvadoran](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/10\/elsalv-768x432.jpg\")
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It\u2019s been over a year since El Salvador codified bitcoin as legal tender in the Latin American country, and by popping the \u2018orange pill,\u2019 the country was propelled into the international spotlight. At the end of September, the 41-year-old Salvadoran president Nayib Bukele penned an opinion editorial that takes aim at the detractors who think it was the wrong decision, those who think it was a good decision but for the wrong reasons, and opponents who \u201care afraid of our decision.\u201d<\/strong><\/p>\n According to Salvadoran president Nayib Bukele<\/a>, if the bitcoin experiment his country is participating in succeeds, a great number of other countries worldwide will follow in the Latin American country\u2019s footsteps. Bukele said this in a recently penned opinion editorial called \u201cStop Drinking the Elite\u2019s Kool-Aid<\/a>,\u201d which was published on September 30, 2022, in English and Spanish. In the editorial, Bukele criticized three camps of detractors and he believes that most of them are simply afraid of El Salvador\u2019s innovative decisions.<\/p>\n \u201cThe most vocal detractors, the ones who are afraid and pressuring us to reverse our decision, are the world\u2019s powerful elites and the people who work for or benefit from them,\u201d Bukele explains in his article. \u201cThey 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.\u201d<\/p>\n Bukele also denies the many headlines published by media outlets such as \u201cBloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times, and The Washington Post\u201d that claim the \u201cwhole country\u2019s economy was destroyed by a $50 million loss.\u201d The Salvadoran president says the claims are baloney and mostly because the country has not sold a single bitcoin since it started acquiring a stash of BTC<\/a>.<\/p>\n \u201cSo the argument that we have lost $50 million worth of bitcoin is false, because we simply have not sold any bitcoin,\u201d Bukele\u2019s editorial insists. \u201cAnd 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% \u2018loss\u2019 in one year, when in 2021 our economy grew 10.3%, or by $4 billion. This is using the IMF\u2019s own numbers.\u201d<\/p>\n Bukele\u2019s opinion piece further adds:<\/p>\n In 2021, our GDP rose 10.3%, income from tourism rose 52%, employment went up 7%, new businesses up 12%, exports up 17%, energy generation up 19%, energy exports went up 3,291%, and internal revenue went up 37%, all without raising any taxes. And this year, the crime and murder rate have gone down 95%.<\/p>\n<\/blockquote>\n The Salvadoran bureaucrat details that he understands that bitcoin is a very large experiment and he believes it\u2019s absurd to claim that the country has already failed. His recent statements are similar to Bitcoin\u2019s inventor, when Satoshi said: \u201cI\u2019m sure that in 20 years there will either be very large transaction volume or no volume.\u201d Similarly, El Salvador has joined the grand experiment and time will tell if the Latin American country\u2019s bet succeeds or fails. If it does succeed, Bukele\u2019s editorial asserts that many countries will follow El Salvador\u2019s lead.<\/p>\n \u201cEl 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,\u201d Bukele\u2019s article concludes. \u201cIf El Salvador succeeds, many countries will follow. If El Salvador somehow fails, which we refuse to, no countries will follow.\u201d<\/p>\nNayib Bukele\u2019s Opinion Editorial Tells People to \u2018Stop Drinking the Elite\u2019s Kool-Aid\u2019<\/h2>\n
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President Says \u2018El Salvador Is the Epicenter of Bitcoin Adoption\u2019<\/h2>\n