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HomeCoinsBitcoinEl Salvador President criticizes ‘legacy’ media retailers' unfair protection

El Salvador President criticizes ‘legacy’ media retailers’ unfair protection

El Salvador’s president Nayib Bukele criticized “legacy worldwide information retailers” for failing to cowl his nation’s compensation of its $800 million bond debt in a Jan. 23 Twitter thread.

Bukele stated that the retailers had extensively predicted that the South American nation would default on its money owed due to its “Bitcoin wager.”

He famous that a few of these companies wrote that his nation might need to strike a take care of the Worldwide Financial Fund to make its bond funds due to its Bitcoin losses. Bukele added:

“[They were] creating the narrative that El Salvador was broke and going to default. I referred to as them out on the time, however in fact, who was going to imagine us and never each worldwide information outlet and their “financial geniuses”?”

However following the nation making the complete $800 million cost with pursuits as and when due, Bukele stated that “virtually no one is masking the story.”

“[Legacy media outlets] lie and lie and lie, and when their lies are uncovered, they go on silence mode.”

El Salvador’s bond debt compensation is approaching the heels of an approval to promote BTC-backed bonds price $1 billion. The nation plans to make use of the funds to buy extra BTC and construct a “Bitcoin Metropolis.”

Beforehand, El Salvador drew widespread condemnation from worldwide monetary our bodies over its choice to undertake the cryptocurrency as a authorized tender in September 2021. A number of consultants predicted the nation would wrestle to repay money owed due to BTC’s volatility.

CoinsTeacher

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