{"id":136471,"date":"2024-08-30T09:00:23","date_gmt":"2024-08-30T06:00:23","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136471"},"modified":"2024-08-30T02:21:07","modified_gmt":"2024-08-29T23:21:07","slug":"el-salvador-president-admits-bitcoin-adoption-in-falls-short-of-expectations","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/el-salvador-president-admits-bitcoin-adoption-in-falls-short-of-expectations\/","title":{"rendered":"El Salvador President Admits Bitcoin Adoption in Falls Short of Expectations"},"content":{"rendered":"<p>In an <strong><a href=\"https:\/\/time.com\/7015636\/president-nayib-bukele-interview\/\" rel=\"nofollow\">interview<\/a><\/strong> with Time magazine on Aug. 29, Bukele described the <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>initiative as a \u201cnet positive\u201d for El Salvador, but conceded that the results have fallen short of his expectations. He noted that while Bitcoin is widely accepted by large businesses and can be used in places like McDonald\u2019s, supermarkets, and hotels, the overall adoption hasn\u2019t been as extensive as anticipated.<\/p>\n<p>In a post on X (formerly Twitter) on the same day, Bukele seemed to embrace Time\u2019s portrayal of him as \u201cthe world\u2019s most popular authoritarian.\u201d Since his presidency began in 2019, El Salvador\u2019s homicide rate has dropped significantly. However, his government has faced accusations of human rights violations, particularly regarding its aggressive crackdown on gangs, which has included the detention of critics.<\/p>\n<p>Bukele stated that the label of authoritarianism doesn\u2019t trouble him much, though he doesn\u2019t particularly like it.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-136416\" href=\"\" title=\"\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\"><\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Bukele first gained significant attention in the crypto world in 2021 when he announced plans to adopt Bitcoin as legal tender at the Bitcoin Conference in Miami. Since then, he has pushed forward initiatives such as a \u201cBitcoin City\u201d powered by volcanic energy and a citizenship program for those who invest $1 million in Bitcoin or USDT.<\/p>\n<p>Bukele frequently updates on Bitcoin purchases via X, claiming that El Salvador\u2019s public wallet holds around $400 million in BTC. Having won re-election in February, Bukele is expected to remain in office until 2029.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador&#8217;s President Nayib Bukele has acknowledged that the adoption of Bitcoin as legal tender in the country has not progressed as much as he had hoped.<\/p>\n","protected":false},"author":3,"featured_media":33296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[72,424],"coin_category":[],"class_list":["post-136471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-crypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>El Salvador President Admits Bitcoin Adoption in Falls Short of Expectations<\/title>\n<meta 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