After an initial demonstration of protests against the Ley Bitcoin, critics in El Salvador are now turning to violence and damage. As a form of “constructive dialogue,” some of these individuals decided to vandalize and burn down a Bitcoin ATM.
Hostility to Bitcoin on fire
As soon as El Salvador’s parliament passed the Bitcoin Law in June, politicians in the Central American country tried to challenge it… in vain, since it has already been in force since September 7, 2021.
On the side of external influences, everything was also done to threaten the Salvadoran government and try to twist its arm to make it change its mind: from the IMF to the UN, through speculation against El Salvadoran government bonds.
Despite all the determination it took President Nayib Bukele to pass this Bitcoin Law against all odds, some still seem afraid of the king of cryptos and prefer to stay under the U.S. dollar – the only legal currency for 20 years in the country, before September 7.
While September 15, 2021 was supposed to be a holiday in El Salvador – it marks the 200th anniversary of the country’s Independence (9/15/1821) – anti-Bitcoin protesters violently attacked one of the 200 Chivo kiosks installed in the country. The goal was to give the population easy access to Bitcoin. The device was angrily vandalized, burned and tagged by the thugs.
A complete lack of understanding in the population that supports the Act
For a crypto-enthusiast, for whom the Bitcoin Ley may be seen as a dream served on a silver platter, this violent protest seems truly mind-boggling, especially since the use of Bitcoin is in no way mandatory for the population.
An engineer and Salvadoran citizen, J. Bustillo, who was retweeted by President Bukele, also expresses his total incomprehension:
“If you don’t want to use BITCOINS, don’t use them! No one is forcing you. But why destroy a simple machine, a vending machine? It is so irrational that it can only be explained by anger, rage and fear. Is this the ‘freedom’ they defend? (…) “
Despite the actions of this minority of thugs and vandals, the country’s march towards crypto-revolution is moving forward. In particular, President Nayib Bukele introduced a big event around the king of cryptos, LABITCONF, which will take place from November 15 to 20 in El Salvador.
Although it will take a lot of education to reassure the confused part of the population, the adoption of Bitcoin is now underway in El Salvador. The country’s economy is expected to benefit greatly, especially between the savings in transfer costs of Salvadoran expatriates and the foreign investors attracted by the “zero taxation”.