On Tuesday, El Salvador was the first country in the world to introduce the cryptocurrency Bitcoin as legal tender. President Nayib Bukele had pushed the introduction. The 40-year-old president is considered popular, but is heavily criticized by the United States. After only two years in office, Bukele has almost all levers of power in hand, and has not done away with bribery and corruption in the country as promised. US analysts fear that the introduction of Bitcoin could encourage money laundering. Surveys show that Salvadorans are suspicious of the volatility of the cryptocurrency, which can lose hundreds of dollars in value in a day. These passers-by in San Salvador also find that the currency does not match the reality of their country. “We don’t understand why the president made this decision. It is only good for those who have a higher income than what the Salvadoran population has. It is good for those who have access to technology and the Internet – most of them don’t. ” “I think this move leads to speculation in the country’s resources, but it doesn’t serve the people on the street, the street vendors, the bus drivers, the shopkeepers. This currency only serves big investors who want to speculate.” On the day it was launched, around a thousand people demonstrated in the capital against what they saw as an unsafe currency for which they believed there was no adequate technical infrastructure. There were technical difficulties with the Chivo digital wallet on Tuesday. The corresponding app was initially inaccessible to many.
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