- El Salvador will continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies
- President Bukele’s statement highlights commitment to cryptocurrency adoption
- Move demonstrates belief in Bitcoin’s long-term value and potential as a global currency alternative.
Imagine your president being a 40yo cryptobro version of Trump. No wonder people are leaving
Bukele and his government is nothing like Trumps. He doesn’t want El Salvador to use USD as the standard currency, that’s it…
Which is understandable, but I don’t understand his plan. If 1 BTC is unaffordable, then people will buy 0.1 BTC. If that’s unaffordable, then people will buy 0.01 BTC. And so on. You have to go down to 0.00000001 BTC before the limit is reached (0.000633158 USD at current prices, which is smaller than a mill). Since every zero there is another order of magnitude, I don’t see how a small nation state could make even the smallest BTC unit unaffordable. Maybe the G7 banding together could do it.
I have very mixed feelings about Bukele but nobody is leaving because of him. Salvadorian emigration has slowed greatly under him and many people are actually moving back.
Tbh we want a Bukele in my south American country. Crime is running rampant
It is sad to see people unaware of different conditions in the world. They have this feelings that one set of rules is good for everyone.
I know. Also tfw left and right is different outside of the US lol
You are very correct.
I don’t really want someone who is "tough on crime"in Russia, China or Taiwan , but I can understand why people in Haiti would be in favor of it.
For a future in which Bukele unites south America under the banner of zero crime, since our local presidents are just stupid and corrupt and wastes of space.
Politicians have a bad habit of not giving up power. Hopefully, when the time comes, he graciously steps down or works on addressing the rights he had to curtail to do what he’s done.
There’s no question they’ve arrested innocent people and the prisoners are being treated poorly, but it’s hard to judge when I don’t have to deal with drug cartels/gangs and make their monthly salary in a couple days.
Yeah, as long as we don’t get jailed without justification, it’s good.
Sadly, that’s also the exact description of who Canada is most likely to elect as their next leader too. “bitcoin millhouse” we call him.