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26 sats \ 0 replies \ @softglitter2d 6h \ on: Why people are cheering up for El Salvador BTC reserve ? bitcoin
It's important to understand the context of El Salvador of why are they buying bitcoin. Before they started purchasing any satoshi, their debt was almost 90% of their GDP, which is a lot and the IMF cut off all communication, thinking that Bukele will enter in reason to talk to them, so he found bitcoin as a mean to attract investment to his country.
Meaning? Bukele wasn't interested of being a revolutionary goverment, he needed money and bitcoin ecosystem gave him in exchange of silence. While we talk about this, also consider that El Salvador is with state of siege more than 800 days, which is a little tiny detail and also recall that Bukele took the Parliament with his own hands. Seems most bitcoiners just turn around this part of the story also.
And lastly but important: ES is not turning itself in a bitcoin paradise, by not any means. Not my words but locals themselves are saying this because this was forced to take bitcoin.