Forex Analysis & Reviews: 05.01.2022 - President of El Salvador...

05.01.2022 11:25 PM

President of El Salvador Nayib Bukele is confident that the world has not yet fully felt all that power and domination of bitcoin, and as soon as this happens, it will be a control shot for fiat

Bukele and Salvador have completely changed the face of their economy due to the introduction of bitcoin into their financial system. Bukele is sure that in the near future fiat will completely disappear from circulation, the dollar will completely devalue, and bitcoin will become a real spark that will ignite a real financial revolution around the world.

Salvadoran President Nayib Bukele is confident that the world has not yet fully felt the full power and dominance of bitcoin, and as soon as this happens, it will be a test shot for fiat.

El Salvador is the first country to adopt bitcoin as an official means of payment.

At first, they received a lot of skeptical and spiteful responses from the International Monetary Fund. Many analysts called El Salvador a country with zero prospects. However, soon all criticism subsided.

Despite the fact that the IMF has repeatedly reminded El Salvador of the legality of making a decision regarding bitcoin, as well as that the country's financial investments that are converted into bitcoin are an unthinkable waste of taxpayer money earned, El Salvador will not change its decision.

Despite the criticism and warnings of the IMF, saying that this could cause irreparable damage to the country's economy, depositors and consumers of the country, El Salvador still continues to buy bitcoins.

They also want to build their bitcoin city, make the country a real mecca of the number one cryptocurrency.

The IMF recommends that the President of El Salvador review the law on the adoption of bitcoin as a legal means of payment, narrow its scope and make minor adjustments to it.

The IMF also insistently suggests that El Salvador strengthen the regulation of the number one cryptocurrency. The IMF strongly wants to reproach El Salvador and convince the country that they made the wrong decision. The IMF sees bitcoin as a serious threat to the dollar, and they are trying in every way to whitewash fiat and drown bitcoin.

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