President Nayib Bukele of El Salvador is accused of allocating over $200 million from COVID-19 relief funds for Bitcoin infrastructure, defying loan agreements.
Criticism arises as reports indicate a low adoption rate of Bitcoin in El Salvador, with significant public opposition to the use of tax money for cryptocurrency investments.
Following up the updates from CNF on “El Salvador’s Pro-Bitcoin President Announces Re-election Bid – More BTC Adoption to Follow,” President Nayib Bukele, El Salvador’s charismatic leader and a staunch Bitcoin advocate, has officially thrown his hat into the ring for the 2024 presidential elections. His announcement comes amidst a tumult of legal concerns and questions about his re-election eligibility.
Yet, his party, New Ideas, seems unswayed by the controversy, riding high on robust public support. This backing could signal a deeper commitment to Bitcoin, painting an intriguing future for cryptocurrency adoption within the nation.
However, Bu

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