Topic: El Salvador 🇸🇻 Bitcoin Adoption I Great future Retrospect. (Read 130 times)
El Salvador seems fully committed to their adoption of Bitcoin, I don't know why anyone thinks they could change their minds. Maybe they're worried that if El Salvador succeeds others will follow suit.
El Salvador still believing that bitcoin has a future that's why he wants to push it for long term even despite there are some people who wants to remove bitcoin as a legal tender on their country. For me in my personal opinion perhaps they need to stop begging from IMF and find another ways because its like they cannot do anything or a way to survive. And for sure there's a tends that many people will losing confidence because of the situation if however they don't find a new way to fix the issue. Just saying
India is preparing seriously for cryptocurrency adoption and with the lunch of the digital Rupees some hours ago most of the crypto holders in that country had great relief.The El Salvador stance on Bitcoin is quite commendable and the IMF is just trying to play politics because El Salvador is presently not economically stable and a young country, but with cryptocurrency adoption, the country will stand a good chance to grow fast.
Events happening in the world of global financial institutions and countries this week have different views, as many of the US cryptocurrency users await the much-talked cryptocurrency regulatory policy by the SEC by the Biden administration, sometimes around this February. Another recent event is the International Monetary funds a global financial institution have instructed El Salvador to delist Bitcoin as a legal tender, but the El Salvador President in a recent tweet stated how bullish the country is about Bitcoin and have made the stand clear to the (IMF) that the country is not going back on it Bitcoin adoption and this is going to give El Salvador a long-term retrospect on cryptocurrency adoption in the future among other countries If&when Bitcoin eventually gain the mainstream adoption.
Source: https://www.dailymail.co.uk/wires/ap/article-10461749/El-Salvador-angrily-rejects-IMF-call-drop-Bitcoin-use.html
Source: https://www.dailymail.co.uk/wires/ap/article-10461749/El-Salvador-angrily-rejects-IMF-call-drop-Bitcoin-use.html
I find it really amusing and amazing that El Salvador really stood their ground on its decision of making bitcoin a legal tender. I believe they already thought about all the possible repercussions and maybe they did foresee this to happen as a result of their actions. Since not everyone is in favor of cryptocurrency and bitcoin in general, there would really be an opposition that could bring them so many arguments and challenges. Although despite all of these, I know El Salvador would have a bright future with their firm decision of holding into bitcoin and believing in it. The time would come modernization and innovation would prosper and they would be thankful to their leader for standing up for a revolution and changing of dynamics instead of following the traditional and usual ones.
El Salvador still believing that bitcoin has a future that's why he wants to push it for long term even despite there are some people who wants to remove bitcoin as a legal tender on their country. For me in my personal opinion perhaps they need to stop begging from IMF and find another ways because its like they cannot do anything or a way to survive. And for sure there's a tends that many people will losing confidence because of the situation if however they don't find a new way to fix the issue. Just saying
In short, El Salvador is punished for continuing to take BTC as legal tender which IMF cancelled the $150M trust fund for the country. This kind of actin against El Salvador can be nothing to them as its just $150M, it will not really hurt them that much but its sort of financial penalty to the country. But this is not new.
Read the article once more.
The IMF didn't cancel anything, one of their requirement for approving the 1.3 billion loan (which Bukele begs for a year already) is to drop the 150m trust funds that is used by Salvador for its currency conversions and move that amount to the treasurer as currency reserves.
The thing is pretty simple and all the drama has an easy solution!
If Bukele and his government think that IMF is so evil, why are they still begging them for a 1.3 billion loan?
If you don't like the IMF then don't try to get a loan from them and they will have nothing to ask you.
Simple!
The revolution in the financial institution will surely start with a country taking the bold step, which El Salvador as a country has taken. They knew for sure that there will be back clash before they started the push for Bitcoin acceptance as legal tender and i think they are in for it, especially with their leader who is more determined. IMF fund withdrawal is nothing compared to the prosperity, riches and success that await the El Salvador people once they all acquired Bitcoin and it begins to moon and becomes bullish. Tough time don't last but tough people do, that's in the case of El Salvador as a country.
I appreciate the continuing push of El Salvador with its current president for Bitcoin adoption as a legal tender. So far, it is only El Salvador that can claim the same and has already entered in the annals of Bitcoin history to be the first country to do so. We don't know yet what can be in the future as there are really pressures coming maybe from many sources for the country to stop making BTC as a legal tender...an example of this of course is the IMF. I am not sure if there is a term limit in El Salvador or when this president can step down but am hoping that the country can already see solid benefits before he fades away so there is no need to walk back away from Bitcoin.
In short, El Salvador is punished for continuing to take BTC as legal tender which IMF cancelled the $150M trust fund for the country. This kind of actin against El Salvador can be nothing to them as its just $150M, it will not really hurt them that much but its sort of financial penalty to the country. But this is not new.
Events happening in the world of global financial institutions and countries this week have different views, as many of the US cryptocurrency users await the much-talked cryptocurrency regulatory policy by the SEC by the Biden administration, sometimes around this February. Another recent event is the International Monetary funds a global financial institution have instructed El Salvador to delist Bitcoin as a legal tender, but the El Salvador President in a recent tweet stated how bullish the country is about Bitcoin and have made the stand clear to the (IMF) that the country is not going back on it Bitcoin adoption and this is going to give El Salvador a long-term retrospect on cryptocurrency adoption in the future among other countries If&when Bitcoin eventually gain the mainstream adoption.
Source: https://www.dailymail.co.uk/wires/ap/article-10461749/El-Salvador-angrily-rejects-IMF-call-drop-Bitcoin-use.html
Source: https://www.dailymail.co.uk/wires/ap/article-10461749/El-Salvador-angrily-rejects-IMF-call-drop-Bitcoin-use.html
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