On Thursday, Salvadoran President Nayib Bukele reaffirmed his belief for Bitcoin (BTC) supremacy on Twitter once again, this time stating that after widespread adoption occurs, “it’s game over for fiat.”

The Salvadoran president has been a mainstay in news headlines due to his government’s regular BTC purchases and absolute pro-Bitcoin stance. He has made frequent statements and comments to support the original cryptocurrency while refusing to budge in the face of criticism that Bitcoin is a bad idea for the nation.

Related: El Salvador buys a smokin’ hot 420 more Bitcoin

President Bukele’s recent tweet comes as the international community launches a barrage against El Salvador for its “Bitcoin experiment.”

The International Monetary Fund criticized El Salvador’s move to adopt Bitcoin as legal tender in June, but the country nevertheless passed it and began accepting BTC as legal money in September. Andrew Bailey, governor of the Bank of England, is a known critic of Bitcoin. More recently, while speaking at the University of Cambridge Students’ Union, Bailey expressed his concerns over El Salvador’s decision to use Bitcoin as a currency due to its extreme volatility.

However, Bukele fired back at his critics,…


Source link

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Menu