Yesterday El Salvador just repaid $800 million bond, according to the Finance Minister Alejandro Zelaya of the little Central american country.
The operation was successfully completed despite “the disinformation campaign of some national and international media”, announced the Finance Minister. El Salvador was the first nation to adopt Bitcoin as legal tender in 2021 and immediately attracted criticism. According to some newspapers and economists, this move would have bankrupted the country, especially with the collapse of Bitcoin in 2022 which would have put the country in serious difficulty in repaying its debts. President Nayib Bukele mentioned this factor in his tweet yesterday, also criticizing the rating agencies.
The last September, ratings agency Fitch downgraded El Salvador’s sovereign debt to “CC” from “CCC”. According to their report, the Central American country’s default was very likely. The President also attacked the so-called mainstream media, which considered his country a failure and now forget to write that El Salvador is instead honoring all its commitments, saying that “they go in silence mode”.
Vision, Bitcoin, leadership and the fight against organized crime. These are the strengths of the country’s administration, which has recently made headlines for volcano bonds and for the purchase of 1 Bitcoin a day since November 2022.
As the old saying goes:
“He who laughs last laughs best”
Another famous quote from Mahatma Gandhi says:
“First they ignore you,
then they laugh at you,
then they fight you,
then you win.”
El Salvador is attracting esteem and admiration from all Bitcoin supporters and the Bitcoin maximalist Max Keiser has moved there, who has recently received his residence card.
Well done President. The future of El Salvador is bright and Bitcoin is the protagonist of this change.
Disclaimer: I am not aware of any third party rights on the images used. I undertake to cite the source if there are any and to adjust the position if requested.
Disclaimer: Trading cryptocurrencies carries a high level of risk and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives and your level of experience. Do Your Own Research. All opinions expressed here are owned by the respective writer and should never be considered as financial advice in any form.