Bukele Attacks The New York Times For Bitcoin

After the publication of the world’s most prestigious media, this is what the Salvadoran president responds to

After an article published by the prestigious American media The New Yok Times, in which he noted that Bitcoin in El Salvador “appears to be a failure”, Salvadoran President Nayib Bukele attacked the newspaper via his Twitter account.

“Since when Tweet embed He devoted a lot of time and space to economic initiatives in El Salvador? They are obviously afraid, Bitcoin is inevitable.”Bukele tweeted Thursday evening.

The president’s message was accompanied by a photo with the print media post, titled: “El Salvador’s Big Bet on Bitcoin Doesn’t Pay off” (El Salvador’s Big Bet on Bitcoin Doesn’t Pay off).

In the New York Times print publication, it was highlighted that “making digital currency a national currency has brought a poor country closer to default,” referring to a possible default on debt that El Salvador may incur.

Looking at this, Bukele added in his tweet: “By the way, they say we’re heading towards default. Are they going to post an apology once everything is paid on time?”

You can read: Bitcoin ‘Seems to Fail’ in El Salvador, Says The New York Times

The media states in their digital version in Spanish that “Bitcoin was destined to transform El Salvador’s economy, positioning the impoverished Central American country as an unlikely precursor to a financial revolution”, but then notes that “almost a year after that surprised the head of state, Najib Boukil, the financial world’s most popular digital currency converter to fiat, appears to have failed, highlighting the gap between the utopian promises of cryptocurrency advocates and economic reality.

Computer expert also says: “There is no evidence that bitcoin purchases have been made.”

Likewise, the article mentions not only the collapse in the price of Bitcoin, which has lost 60% of its value so far this year, but also the little use it gives Salvadorans, despite all the momentum it has been given. provided by the government through the use of public money.

“The government gave this project all the momentum that could be expected, and yet it failed,” University of Chicago economist Fernando Alvarez told the media.

And not only that, the medium also reflects in the post that Bitcoin law “has exposed the shortcomings of its authoritarian style of governance, and focused on its image.”

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