President Nayib Bukele of El Salvador scolds opponents as his country’s Bitcoin holdings soar 40% within the cryptocurrency bull market.
El Salvador’s president, Nayib Bukele, recently sent a daring tweet to Peter Schiff, a well-known Bitcoin skeptic, saying, “Cry harder.” Schiff, who has a reputation for being skeptical of Bitcoin, encountered resistance when he criticized Nayib Bukele for accepting Bitcoin as legal money in El Salvador.
The reaction from Nayib Bukele shows his faith in the potential advantages of crypto for his country’s economy and his continuous support for Bitcoin.
El Salvador’s president, Nayib Bukele, turned to social media to address critics of his country’s cryptocurrency adoption in the wake of Bitcoin’s recent price surge. According to Bukele, there has been a clear shift in the media’s coverage of Bitcoin from its low-value days to its current era, when its value has surged substantially.
In 2021, El Salvador formally added Bitcoin to its list of legal tenders. In addition, the country started investing in Bitcoin, which came under fire from several well-known financial groups throughout the world. Particularly during the bear market, critics voiced their strong displeasure with El Salvador and its president, Nayib Bukele.
El Salvador has seen a 40% increase in Bitcoin revenues due to the current cryptocurrency market upsurge. The country’s president, Nayib Bukele, has been busy praising X for its huge earnings and assuring the public that it plans to keep the hold extended.
The president said, “They published dozens of stories detailing our losses when the price of bitcoin was low. Since our visa program is now the primary source of Bitcoin, we stand to gain more than 40% from the sale of Bitcoin alone due to its skyrocketing market value.”
“We will not sell because 1 bitcoin stays 1 bitcoin,” Nayib Bukele said. “However, the fact that these so-called “analysts,” “journalists,” “hit pieces,” and “writers” have gone radio quiet is shocking.”
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