Even after receiving criticism from the world’s leading financial organizations like the International Monetary Fund (IMF) and the World Bank, Nayib Bukele, the President of El Salvador, remained a strong supporter of Bitcoin and other crypto-assets. In his recent Tweets, Bukele criticized fiat money and praised his country’s decision to adopt Bitcoin as legal tender in the region.
The mass adoption of Bitcoin in El Salvador is changing the country’s economy.
According to the El Salvador president, the mass adoption of Bitcoin in El Salvador is changing the country’s economy. Nayib Bukele called BTC the ‘real revolution’ and expressed his confidence in the world’s most valuable digital currency. “What has been called by international organizations as “The Bitcoin Experiment” is nothing more than the world watching how mass adoption changes a country’s economy. If it’s for good, it’s game over for FIAT. El Salvador is the spark that ignites the real revolution,” Bukele stated in a Tweet yesterday.
Bitcoin crosses above the $51,000.
Earlier today, the leading cryptocurrency bitcoin topped the price level of $51,000 for the first time in nearly two weeks. The crypto asset jumped by more than 6% in the last 24 hours and added over $50 billion to its market cap. Overall, the market cap of digital currencies climbed by almost $100 billion on 24 December. “With BTC back over $51k, the sentiment from traders has shifted back into positive range. As expected, $50,000 has become somewhat of a psychological support level, where traders become optimistic when above this threshold, & skeptical when below,” Santiment noted. As reported earlier, El Salvador has been buying bitcoin regularly.