Pro-Bitcoin (BTC) President Nayib Bukele’s Fox News Appearance Met with Backlash

Just a week after the celebration of the Independence Day of El Salvador, the crypto-loving president, Nayib Bukele, appeared on Fox News, and gave a powerful speech at the United Nations. The appearance of Nayib Bukele on Fox News got a mixed reception on Twitter, as the crowd is pleased to see significant crime reduction, while some blame Bukele for alleged authoritarian ways of ruling. In a nutshell, there’s no denying that El Salvador’s president is transforming El Salvador.

Bukele’s Face on the Newest Issue of The Bitcoin Magazine

Many fellow politicians noticed a different vibe on September 15th, 2022, El Salvador’s Independence Day. The country had been the murder capital of the world for years, but Bukele’s decisions decreased the murder rate dramatically. Because of that, the tourism sector was among the fastest in the world to get back to the pre-pandemic levels. Moreover, the local tourism industry is thriving, as the citizens are no longer in fear for their lives. Ultimately, patriotism in El Salvador is on the rise.

As Nayib Bukele officially announced that he’d run for re-election in 2024, The Bitcoin Magazine issued an Orange Party edition with a special op-ed by Nayib Bukele. Crypto and politics inevitably meet, as the crypto world is still searching for a suitable legal framework. The message on Fox News was clear: “Bitcoin (BTC) is the first form of money that’s truly decoupled from the state, it is decentralized.”

The Bitcoin (BTC) President Is Rooting for Crypto Despite Crash

Furthermore, the anniversary of making Bitcoin (BTC) legal tender just passed. While the Bitcoin (BTC) investments, some planned and some spontaneous, are marginally in the red, there’s inevitable proof of improvement. Aside from the increased tourism and dramatically decreased crime rate, making Bitcoin (BTC) a legal tender brought about the interest of foreign investors. For example, a $600 million investment plan in the Bitcoin Beach Wallet and, of course, the Volcano Bonds.

On the Flipside

  • El Salvador’s constitution prohibited running two terms in a row prior to Bukele’s inauguration.
  • Bukele’s government changed the ruling just days before declaring Bitcoin (BTC) legal tender.
  • Nayib Bukele’s crypto portfolio is at a $62 million deficit with the current BTC market price.

Why You Should Care

The further development of El Salvador’s Bitcoin (BTC) strategy is a game-changer for crypto adoption both socially and legally.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is a reporter, focusing on the latest tendencies of the crypto galaxy. He spends his time digging deeper into specific areas like meme coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.