Bukele President hits back criticism of the “Bitcoin Experiment”

Bukele President hits back criticism of the “Bitcoin Experiment”. According to the Salvadoran President, the introduction of Bitcoin is changing the economic landscape of El Salvador.

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On Thursday President Nayib gave Bukele of El Salvador affirmed His conviction of Bitcoin (BTC) supremacy on Twitter again, this time claiming that “the game is over for Fiat” following mass adoption.

The President of Salvador has become a staple in the headlines due to his frequent purchases of BTC and his staunch pro-Bitcoin stance. He has regularly made statements and comments in support of the original cryptocurrency, while remaining unmoved in the face of criticism that Bitcoin was a bad idea for the nation.

Related: El Salvador is buying another 420 hot bitcoins

The latest tweet from President Bukele comes as the international community launches an attack on El Salvador over their “Bitcoin experiment”.

The IMF criticized El Salvador’s move to adopt Bitcoin as legal tender in June, but the country passed and began accepting BTC as legal tender in September. British Central, Andrew Bailey, is a well-known critic of Bitcoin. More recently, speaking to the Cambridge University Student Union, Bailey expressed concern about El Salvador’s decision to use Bitcoin as a currency because of its high volatility.

https://twitter.com/nayibbukele/status/1474119003169865728?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
However, Bukele hit back on his critics, pointing out that while the rest of the world sees El Salvador as a “bitcoin experiment,” it is changing its economy with the mass adoption of the bitcoin series. Bukele also stated that El Salvador will be seen as the spark that will start the real revolution when Fiat is no longer a part of BTC’s dominance.

Since El Salvador accepted Bitcoin as legal currency, El Salvador has used Bitcoin profits, or “surpluses”, from its Bitcoin trust account to fund the construction of 20 schools. In mid-October, Bukele announced that the government would spend $ 4 million from Bitcoin Have Trust to build a new animal hospital in San Salvador.

President Bukele’s recent price drop comes when El Salvador recently bought 21 BTC on Tuesday to celebrate the “last 21 of the 21st century” and the scarcity of Bitcoin due to its supply.