Will El Salvador’s Bitcoin Bet Pay Off?

Today El Salvador faces a different version of El Pulpo in the form of the global fiat monetary system represented by the IMF.On September 7 2021 El Salvador made history by becoming the very first country in the world to formally embrace Bitcoin as legal tender. Offered the reality that El Salvador is a dollarized economy, the circulation of a U.S, dollar option like Bitcoin, might eventually minimize the function of the dollar in transacting, not just in El Salvador however throughout Central America and the rest of the global south.”As the modern-day day El Pulpo, the IMF is hell bent on preserving their dominant position in the worldwide economy and in spite of all the positive developments that might accumulate to El Salvador thanks to the Bitcoin Law, they will continue to vehemently oppose it.

Today El Salvador faces a various variation of El Pulpo in the form of the worldwide fiat financial system represented by the IMF.On September 7 2021 El Salvador made history by ending up being the first nation in the world to formally embrace Bitcoin as legal tender. Given the fact that El Salvador is a dollarized economy, the circulation of a U.S, dollar option like Bitcoin, may ultimately lower the role of the dollar in transacting, not just in El Salvador however throughout Central America and the rest of the global south.”As the modern-day day El Pulpo, the IMF is hell bent on preserving their dominant position in the global economy and despite all the favorable advancements that could accrue to El Salvador thanks to the Bitcoin Law, they will continue to vehemently oppose it. Its undeniable that this is a strategy directly out of El Pulpos playbook whose intention is to stymie El Salvadors Bitcoin adoption. El Salvadors GDP grew by 10.3% in 2021 and its worth noting that prior to 2021 El Salvador had never had double digit GDP growth.