Nayib Bukele Responds To Bank Of England’s Bitcoin Criticism

[Pagla]

El Salvador’s bitcoin adoption caused a big stir in the world. It was almost a myth until the coin was signed into law as a means of payment. Then, the simple announcement alone shook the world, and the final launch became a hot topic.

To say that many people and organizations came for Nayib is an understatement. The country’s president received many insults, but he kept pushing until he achieved the goal.

Amongst the ones who voiced their concerns loudly is the Bank of England (BOE). Ignoring the praiseworthy things about blockchain, such as the technology’s stealthy security, the Bank of England has been skeptical about the whole idea of bitcoin, its growth, or its popularity. So, El Salvador’s President Nayib Bukele worsened its negative position. Andrew Bailey of BOE, a BTC critic, appears to be more vocal than others.

More Information

[TomPluz]

One impression that came to me with this development is that you will never change something as basic as what El Salvador did to its legal tender without getting the harsh criticisms from the old guards. These old guards are taking the whole thing in El Salvador as a big threat to traditional finance so they are taking the time to express their fear before the public with the assumption that El Salvador can be stopped to exercise its sovereignty over the country's economy and finances...and maybe even hoping that there can be a growing number of people in El Salvador who will resist what President Nayib Bukele is doing. I am hoping he is the man who can take Bitcoin to a different and higher level.