El Salvador Ambassador voiced concerns regarding the pressure and criticism in the wake of the introduction of Bitcoin as a tool for innovation.
Milena Mayorga Ambassador of El Salvador to the US spoke out regarding the current situation within El Salvador and indicated that El Salvador is under fire due to its Bitcoin law.
According to Milena following the introduction of Bitcoin as a legal currency the country is taking steps towards the development of new initiatives but is under scrutiny, as DC Washington doesn’t want to be a loser.
“The concern in Washington DC is about losing the power of the dollar and we can understand that …..But Salvador has to move on and be on a different level”
Milena stated that the nation is exploring alternative methods to generate income for the citizens and the country instead of traditional sources like the IMF. She continues to say:
“They are afraid and concerned because if we succeed, a lot of countries are looking to follow our lead”
Milena stated that over the last 30 years, many corrupt politicians were self-serving, but Nayib, the president of El Salvador’s, is trying to be better than previous officials to ensure transparency. Bukele believes that Bitcoin will aid the citizens as well as El Salvador to get a more stable and sustainable economy.
According to Milena who is the spokesperson for this Bitcoin acceptance, El Salvador is getting massive tourist attractions. Plus, more than 80% of El Salvador’s citizens are using Bitcoin Chivo wallet for payment for purposes with no cost.
Milena has also highlighted the $30 support for each citizen who has a Chivo wallet, and added that Chivo wallet also provides incentives to citizens who pay the high cost of fuel.
El Salvador’s Officials tried to attack the world bank as well as the IMF in relation to their concerns regarding El Salvador adopting Bitcoin as a payment method. Recently the IMF issued a second concern about Bitcoin in the context of a legally-valid currency to attack and critique El Salvador’s Bitcoin law.