• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Support in El Salvador is PR Strategy Over Substance, Claims TIME Reporter

user avatar

by Giorgi Kostiuk

a year ago

  1. Nayib Bukele’s Global Presence
  2. Bitcoin: A Tourism Attraction in El Salvador?
  3. Incomplete Initiative Implementation


    4. TIME reporter Vera Bergengruen conducted one of the first interviews in three years with El Salvador's President Nayib Bukele. She suggested that the country's Bitcoin adoption might be more about image than actual economic reform.

    Nayib Bukele’s Global Presence

    Nayib Bukele, who previously worked as a publicist, gained international attention in 2021 when he announced plans to make Bitcoin legal tender in El Salvador. However, Vera Bergengruen's interview casts doubt on whether this move was genuinely aimed at addressing the nation's economic issues. According to her, Bukele's initiatives are focused on crafting a powerful public image.

    It's important to understand from Bitcoin to the war on gangs, everything he does is image first, results later.Vera Bergengruen

    Bitcoin: A Tourism Attraction in El Salvador?

    The decision to make Bitcoin legal tender surprised both the crypto industry and the people of El Salvador. According to Bergengruen, Bukele's team had to quickly sell the benefits of Bitcoin adoption, especially regarding remittances from Salvadorans abroad. However, the initiative was chaotic from the start.

    Incomplete Initiative Implementation

    Despite announced plans like creating a 'Bitcoin City' powered by geothermal energy from volcanoes, the initiative remains incomplete more than three years later. Questions remain over whether this move will bring tangible benefits to the people of El Salvador or if it will stand as an alleged PR strategy.

    Bukele's term continues until 2029, but doubts about the real benefits of Bitcoin adoption persist. Many believe the initiative is more about image than actual economic reform.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

The Importance of Hash Functions in Cryptography

chest

Hash functions create unique digital fingerprints that ensure data integrity in blockchain systems.

user avatarAyman Ben Youssef

Understanding Encryption in Cryptography

chest

Encryption is a fundamental aspect of cryptography that protects sensitive information by transforming readable data into unintelligible formats.

user avatarKofi Adjeman

The Role of Cryptography in Blockchain Security

chest

Cryptography is essential for securing blockchain systems by protecting data and verifying identities.

user avatarNguyen Van Long

Digital Signatures: Ensuring Authenticity in Transactions

chest

Digital signatures verify the authenticity of messages and transactions in the digital world.

user avatarSatoshi Nakamura

JJill, Inc Reports Strong Q3 Financial Results

chest

JJill, Inc has reported impressive financial results for Q3 FY2025, with EPS of 0.76 and revenue of 150.5 million, surpassing market expectations.

user avatarRajesh Kumar

JJill, Inc Provides Cautious Outlook for Q4 and Full Year 2025

chest

JJill, Inc provides a cautious outlook for Q4 and the full year 2025, anticipating a 5-7% decline in net sales for Q4 and a 3% decline for the full year due to tariff cost pressures.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.