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Bukele lashed out at opponents for criticizing bitcoin in El Salvador

The President of El Salvador, Nayib Bukele
The President of El Salvador, Nayib Bukele

The President of El Salvador, Nayib Bukele, called the opposition “clumsy” this Sunday for trying to scare the public with the law that will give legal tender to bitcoin in the economy from September 7.

“The awkward opposition always plays one-step chess. They have bet to scare the population about the Bitcoin Law and they may achieve something, but only until September 7 “, said the president on his Twitter account.

Through social networks, parties and opponents of the right and left warn the population not to use bitcoin because they assure that they will “lose their money” and that because of the law the workers will receive their salary in cryptocurrency, something that the Government has denied.

According to the president, once the Bitcoin Law comes into force “people will see the benefits”, so his detractors “will remain as liars and lose double.”

Bukele assured that from the moment the regulation enters into force, the electronic wallet “Chivo”, Created by the government so that citizens can make commercial transactions and receive or make payments with bitcoin.

The application will also give the user the option to convert their bitcoins into dollars instantly.

As Bukele explained, those who download “Chivo” will receive the equivalent of $ 30 in bitcoin for free to start operating, as a way to promote its use.

People protest in El Salvador against the use of bitcoin
People protest in El Salvador against the use of bitcoin

“With this application (Chivo) they will be able to accept payments in bitcoin or in dollars, open a small business and manage it from there, receive money from family or friends and send and receive remittances without paying a single cent of commission to anyone”, maintained the ruler.

Prior to the entry into force of the Bitcoin Law, the Government has begun to raise in different parts of the country 200 “Chivo points” for bitcoin ATMs.

“And what if someone doesn’t want to use bitcoin? Well, nothing, do not download the application and continue your normal life. Nobody is going to take your dollars as the opposition says “, said the president.

The Congress of El Salvador approved on June 9 a law that will convert bitcoin into legal tender in the country to boost its economy, dollarized for 20 years.

(With information from AFP)


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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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