{"id":35084,"date":"2022-11-14T09:02:55","date_gmt":"2022-11-14T09:02:55","guid":{"rendered":"https:\/\/egrowonline.com\/?p=35084"},"modified":"2022-11-14T09:02:55","modified_gmt":"2022-11-14T09:02:55","slug":"el-salvador-president-says-ftx-is-the-opposite-of-bitcoin","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=35084","title":{"rendered":"El Salvador President Says FTX Is the Opposite of Bitcoin"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<ul>\n<li><strong>El Salvador President is over-optimistic about Bitcoin\u2019s future amid crypto doom.\u00a0\u00a0\u00a0\u00a0<\/strong><\/li>\n<li><strong>El Salvador\u2019s  holdings were not held on the ruined FTX exchange.<\/strong><\/li>\n<\/ul>\n<p>Famous Bitcoin maximalist El Salvador President, Nayib Bukele, showed up on Twitter to solidly express the cruciality of Bitcoin amid the ongoing chaos in the crypto market. He penned down that the bankrupted crypto exchange FTX is unlike Bitcoin. FTX\u2019s non-transparency and unfair handling of users\u2019 funds triggered him to point out how extremely opposite FTX\u2019s and Bitcoin\u2019s modus operandi is.<\/p>\n<blockquote class=\"twitter-tweet\"><p>FTX is the opposite of #Bitcoin #Bitcoin \u2019s protocol was created precisely to prevent Ponzi schemes, bank runs, Enron\u2019s, WorldCom\u2019s, Bernie Madoff\u2019s, Sam Bankman-Fried\u2019s\u2026\u2026bailouts and wealth reassignments.Some understand it, some not yet. We\u2019re still early.\/21m<\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) November 14, 2022<\/p>\n<\/blockquote>\n<p>He strongly advocates for Bitcoin, believing it is the potential tool against all the humongous scandals and Ponzi schemes that the global economy is exposed to. He stated the dominant DeFi pioneer was created to prevent even the current \u201cFTX contagion.\u201d There would be no chaos created by bailouts, insolvencies, or bankruptcies.<\/p>\n<p>Rumors spread around saying that El Salvador\u2019s Bitcoin holdings were on FTX. Binance CEO CZ falsified them by rushing in as the messenger of the President.\u00a0<\/p>\n<p>Bitcoin Evangelist For Eternity?<\/p>\n<p>The El Salvador President is well known for his craze over Bitcoin in the crypto sector. On September 7, 2021, the Central American country became the first nation to accept Bitcoin (BTC) as legal tender. Ever since then, Bukele ushered in the formation of a Bitcoin-based economy.\u00a0 He received criticism for betting the Salvadoran economy on the highly volatile asset and landing in hard debts. But none of those stopped him from investing in BTC even during the bearish dips this year.<\/p>\n<p>Remarkably, the country takes pride in encompassing the \u201cBitcoin Beach\u201d, which is the label given to El Zonte \u2013 an island where every merchant accepts Bitcoin as payment. The country launched its own digital wallet, the Chivo app, to transform Bitcoin into a prominent domestic currency for El Salvador. Despite all these, Bukele\u2019s forecast of the Bitcoin-led economy does not seem to have a positive change in the country\u2019s growth. Moreover, BTC adoption among the locals is not common.\u00a0<\/p>\n<p>It is evident from Bukele\u2019s opinions that Bitcoin\u2019s true decentralization and transparency persuade him to consider the crypto \u201cthe future.\u201d Criticisms do prevail and but neglecting all that, Bukele emerges as the determined advocate for Bitcoin-powered economies.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiX2h0dHBzOi8vaW4uaW52ZXN0aW5nLmNvbS9uZXdzL2VsLXNhbHZhZG9yLXByZXNpZGVudC1zYXlzLWZ0eC1pcy10aGUtb3Bwb3NpdGUtb2YtYml0Y29pbi0zNDE5MzA40gEA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador President is over-optimistic about Bitcoin\u2019s future amid crypto doom.\u00a0\u00a0\u00a0\u00a0 El Salvador\u2019s holdings were not held on the ruined FTX exchange. Famous Bitcoin maximalist El Salvador President, Nayib Bukele, showed up on Twitter to solidly express the cruciality of Bitcoin amid the ongoing chaos in the crypto market. He penned down that the bankrupted [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[50,2258,2928,1854],"class_list":["post-35084","post","type-post","status-publish","format-standard","hentry","category-bitcoin","tag-bitcoin","tag-ftx","tag-president","tag-salvador"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/35084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35084"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/35084\/revisions"}],"predecessor-version":[{"id":35085,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/35084\/revisions\/35085"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35084"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}