Bitcoin protests against cryptocurrency as legal tender in El Salvador – News on World

Thousands of protesters have taken to the streets in El Salvador angry at the introduction of Bitcoin as legal tender.

President Nayib Bukele says the cryptocurrency will help Salvadorans working abroad send money home.

However, protesters fear that this will bring instability and inflation to the impoverished Latin American country.

Some protesters set fire to a brand new Bitcoin machine, while others held up signs that read “Bukele Dictator”.

Last week, El Salvador was the first country to use virtual currency alongside the US dollar as legal tender.

Protesters gathered in the capital, San Salvador, on the 200th anniversary of the country’s independence and waved posters saying “No to Bitcoin” and “Respect the Constitution”.

You accuse the president of using authoritarian means to strengthen his power.

Mr Bukele has endeavored to consolidate control over the judiciary, which recently acquitted him for a second consecutive term despite constitutional limits.

“It’s important to say this morning: It’s enough! What the government is doing is arrogant, it’s authoritarianism,” protester Dora Rivera told Reuters.

But Mr Bukele still has strong support in El Salvador. A recent newspaper poll found that 85.7% of people voted for the president.

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