El Salvador's president, Nayib Bukele, has confirmed that his government will not sell its bitcoins. “Ultimately, 1 BTC = 1 BTC,” he added.
El Salvador will not sell its bitcoins
Nayib Bukele, the recently re-elected president of El Salvador, entered the topic of bitcoin. His country recognized the cryptocurrency as legal tender in September 2021. He has also been buying coins regularly for years.
Bukele recalled that “when the market price of Bitcoin was low,” there were “literally thousands of articles” in the media about El Salvador's “alleged losses” from investing in BTC.
Now that the market price of Bitcoin has increased significantly, if we were to sell, we would make a profit of over 40% (…)
– wrote the president.
He quickly added that his country “will not sell” BTC. In his eyes, “1 BTC = 1 BTC”.
It is very telling that the authors of these hits (media articles), “analysts”, “experts” and “journalists” are now silent.
– he mocked those who attacked him just a few months ago.
Remember this the next time they spread lies about El Salvador again
– added.
Hero of the BTC market
Bukele has been a market hero since 2021. He not only showed the leaders of other countries that the state could start purchasing bitcoins, but also how to conduct a broader pro-Bitcoin policy. Bitcoin City is being built in El Salvador, which is to be a regional center of new technologies.
From the beginning, the International Monetary Fund (IMF) attacked Bukele for his policies. He pressured El Salvador to abandon its strategy and change the status of bitcoin – no longer recognizing it as legal tender. Despite these pressures – which were of a political nature – the country's government did not give in.
Bukele himself enjoys enormous support from voters. He was recently elected for a second term (even though the country's constitution prohibits one person from being head of state for two terms), already in the first round. His party, New Ideas, also has a large advantage in parliament.
Bukele's success, however, caused controversy. The opposition believes that he won the election because he bent the law.
