Salvadoran crypto-enthusiasm. Specialists Trust-in-btc.com about the prospects of cryptonomics of El Salvador.
In the last couple of weeks, the attention of the crypto community has been focused on a small Latin American country that few people could show on the map recently. It’s about El Salvador and the initiatives of its president, who has shown himself to be an unexpectedly progressive crypto enthusiast. Opinions on this matter were divided, instead of the expected mass enthusiasm, there were also very skeptical assessments of what was happening. Marius Zelinsky, a specialist in working with clients of the Trust in BTC fund, shared his vision of the situation. In his opinion, it is unrealistic to receive exclusively positive feedback on such an economic policy. There will always be skeptics even among crypto enthusiasts who are able to find a flaw in any initiative.
Recall that it all started with an ambitious tweet by the President of El Salvador, Nayib Bukele, that „in three minutes we will go down in history.“ This tweet appeared three minutes before midnight on September 7, it was from this date that the authorities in El Salvador legally recognized bitcoin as a legal means of payment. From the same moment, the Chivo bitcoin wallet was publicly available. Before that, at the end of June, transaction and conversion fees were canceled, and it was also possible to cash out funds in bitcoin ATMs. To implement an ambitious plan for the legalization of the crypt, a $ 150 million fund was created to ensure the exchange of bitcoin and dollars, and the first state purchase was 200 BTC.
Immediately there were dissatisfied. Cipher banks from Prague recalled the values of the crypto community and stated that the inclusion of „digital gold“ in the financial system contradicts these very values. Vitalik Buterin also recalled the „ideals of freedom“, who also criticized the actions of the President of El Salvador.
Analysts of the Trust in BTC fund are closely monitoring the situation in El Salvador, in any case, this is, without a doubt, an important historical event. El Salvador became the first country in the world to grant bitcoin the status of an official monetary unit. Marius Zelinsky is generally positive about this initiative and sees good potential for cryptocurrencies to reach a new level. However, he believes that it is too early to talk about the creation of a „crypto“. Bukele’s initiative is certainly very ambitious, but El Salvador may not be the most successful platform for the introduction of such practices. The economic situation of the country leaves much to be desired, the criminal situation remains difficult, despite the obvious successes of Bukele in the fight against crime. By the way, a rather revealing touch – in 2001, El Salvador abandoned the national currency and switched to the dollar.
Indeed, the unexpected decision of El Salvador gives rise to questions, answers to many of them, apparently, will begin to appear in the near future. Trust in BTC tends to assume that at this point in time the situation is developing in favor of bitcoin and the cryptocurrency market as a whole. The experience of El Salvador may well be successful, then it will certainly be followed by both neighbors in the region and countries on other continents. In the meantime, the policy of Nayib Bukele has become another factor in the growth of the rate of the main digital asset.
Meanwhile, the rate of the internal GLT token of the Trust in BTC project has overcome the mark of 17.5 USD per unit. You can buy GLT and become a member of the project, as well as find out what the Trust in BTC project is on the website trust-in-btc.com .
