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El Salvador President Nayib Bukele is confidently moving ahead with integrating Bitcoin into the economy. Known for his blunt response to his critics, Nayib Bukele has lashed out at the U.S. Senators who recently expressed concerns about El Salvadorâs Bitcoin experiment.
The Senators passed a bill dubbed ââAccountability for Cryptocurrency in El Salvador Actââ to monitor what impact does the nationâs Bitcoin law could have on the United States. In his recent tweets, Bukele writes:
Never in my wildest dreams would I have thought that the US Government would be afraid of what we are doing here. The US Government DOES NOT stand for freedom and that is a proven fact. So we will stand for freedom. Game on! Bitcoin is FU money!
The bill hasnât exactly stated that it âfearsâ El Salvadorâs Bitcoin experiment. However, it does put a caution note to it. Also, one of the stipulations in Section 2 of the bill calls the need to examine the âpotential for reduced use by El Salvador of the United States dollarâ.
So far the USD has been the worldâs reserve currency. However, the adoption of Bitcoin on a massive scale can possibly put a dent in the USDâs global dominance. Ever since El Salvador passed the Bitcoin law, its sovereign debt has got a negative rating.
President Bukele has also spoken about the news surrounding the arrival of Bitcoin bonds.
El Salvador Bitcoin Bonds Coming Ahead
On Wednesday, March 23, Reuters published a report, also covered by CoinGape, stating that El Salvador has postponed the launch of its Bitcoin bonds citing unfavorable market conditions.
However, President Nayib Bukele has completely rejected this narrative stating âThe short delay in the issuance is only because we are prioritizing internal pension reform and we have to send that to congress beforeâ.
He stated that his government is working with Bitfinex to bring the Bitcoin bonds to market. On the other hand, Binance CEO Changpeng Zhao is visiting El Salvador to meet President Bukele. Not many details of the meeting are available yet.
The post El Salvador President Lashes Out At U.S. Senators for Raising Red Flag on the Bitcoin Experiment appeared first on CoinGape.
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