El Salvador sees protests against the President- is bitcoin a reason?

el salvadore protests bitcoin
Women buy at a store at El Zonte Beach in Chiltiupan, El Salvador

Thousands of protestors gathered in the streets of El Salvador’s capital San Salvador to protest against the President. But is Bitcoin becoming a legal tender also a reason behind the protest? Yes! It is- one of the many!   

The people in San Salvador gathered to protest against the crypto supporter President Nayib Bukele for his authoritarianism. Though Bukele was the main focus of the protests, the people were protesting against his decisions. These decisions included Bukele’s efforts to supplant the Supreme Court justices with judges more to his liking and the move to make bitcoin legal tender in El Salvador.  

Many groups came forward to participate in the protests with signboards that read- ‘Bitcoin is fraud’, and “Democracy is not up for negotiation, it is defended,”.  

There were also many anti-authoritarian messages on the boards!   

Last month, amid the ongoing speculations of Bukele consolidating power, the President changed his Twitter Bio to Emperor. His act further angered the already frustrated masses.  

El Salvador, which had used the U.S. dollar as the legal currency for two decades, recently became the first country in the world to make bitcoin a national currency.   

Bukele’s government urged that bitcoin could help revitalize El Salvador’s struggling economy. 

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