April 18, 2024

The President of El Salvador accused foreign media of hushing up the success of the country after the adoption of Bitcoin

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The President of El Salvador accused foreign media of hushing up the success of the country after the adoption of Bitcoin

Crypto enthusiast at the presidentialThe post said that numerous foreign media outlets predicted the bankruptcy of El Salvador but completely ignored the successes of this small developing country.

Nayib Bukele took to Twitter to criticize "traditional foreign media" for failing to report on his country's compliance with its bond obligations.

“Last year, almost every internationalthe news agency reported that because of our bet on Bitcoin, El Salvador would default on its debt by January 2023. But we just paid the full $800 million plus interest. However, of course, almost no one is covering this event,” Bukele wrote.

Paying off El Salvador bond debtfollowed the approval of the sale of BTC-backed bonds in the amount of $1 billion. The funds raised will be used to replenish the country's cryptocurrency reserves and develop Bitcoin City.

In the middle of last year, the leadership of the Ministry of Finance of El Salvador stated that the fall of the cryptocurrency market does not threaten the financial stability of the state.