El Salvador President Nayib Bukele reiterated his faith for Bitcoin on Twitter once again, this time stating that after widespread adoption occurs, “it’s game over for fiat.”
The Salvadoran president has been highlighted in news headlines due to his government’s regular BTC purchases and absolute pro-Bitcoin stance. He has made frequent statements and comments to support the original cryptocurrency while refusing to budge in the face of criticism that Bitcoin is a bad idea for the nation.
The International Monetary Fund criticized El Salvador’s move to adopt Bitcoin as legal tender in June, but the country nevertheless passed it and began accepting BTC as legal money in September.
Andrew Bailey, governor of the Bank of England known as the critic of Bitcoin expressed his concerns over El Salvador’s decision to use Bitcoin as a currency due to its extreme volatility.
Bukele fired back at his critics, pointing out that while the rest of the world regarded El Salvador as a “Bitcoin experiment,” it was transforming its economy with Bitcoin mass adoption.
