El Salvador’s President Nayib Bukele on Bitcoin Critics: Better ‘Not Listening’ to Them
Nayib Bukele, President of El Salvador, has railed against critics of his bitcoin policy in the country. In one of his latest appearances, Bukele condemned the actions of local critics who have used his bitcoin policies, which have put El Salvador in the spotlight, as a weapon against his administration.
Bukele stated that his local opposition lied repeatedly to the people of El Salvador, shifting its narrative to design new attacks around the adoption and price movements of the prime cryptocurrency.
Bukele explained that at first, the opposition stated that the government would exchange the people’s dollars for bitcoin. Then, the narrative muted to how many millions the country was losing, due to the extended bear market. Later, the criticism mutated once again to criticize the destiny of El Salvador’s earnings.
However, Bukele remarked that no one acknowledged that they were wrong once it was proven that their claims would not materialize.
Bukele also touched on the return of metallic mining to the country after repealing a law forbidding these activities.
Read more: New Mining Legislation in El Salvador Paves Way for Gold Exploitation
He stated:
The same thing will happen with mining. Right now it’s “mining will pollute the rivers.” When we use mining profits to start to clean up the rivers that they polluted in the first place, they’ll come up with something else.
As a pioneer in the nation-state adoption field, El Salvador faced enormous pressure (both internal and external) to drop its bitcoin initiatives. Traditional financial institutions like the International Monetary Fund (IMF) repeatedly called for El Salvador to abandon its crypto strategies, but Bukele pushed forward regardless.
Read more: El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender
The country has accumulated over $300 million in profits from bitcoin investments and the mining activities developed by Bukele’s administration with green energy.
Read more: President Bukele Gets the Last Laugh: Over $300 Million in Unrealized Bitcoin Gains
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