The Salvadoran president seemed to embrace the ”authoritarian” label while admitting that the country had not seen as many benefits from Bitcoin as he anticipated.
Salvadoran President Nayib Bukele has said the country’s adoption of Bitcoin hasn’t gone as far as he would have liked after adopting the cryptocurrency as legal tender.
In a Time magazine interview released on Aug. 29, Bukele claimed Bitcoin (BTC) adoption was a “net positive” for El Salvador but admitted he had not seen as many benefits as he anticipated. The president compared the country’s stance on protesters to its acceptance of BTC — as “voluntary” and not enforced by the government.
“[A] lot more could definitely be done,” said Bukele. “Bitcoin hasn’t had the widespread adoption we hoped for. Many Salvadorans use it; The majority of large businesses in the country have it. You can go to a McDonald’s, a supermarket, or a hotel and pay with Bitcoin. It hasn’t had the adoption we expected.”
