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Salvador President Mocks Economist Steve Hanke, Here's Why

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Sat, 10/16/2021 - 14:23
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Vladislav Sopov
As Bitcoin (BTC) inches closer to new ATH, Nayib Bukele recalls Hanke's skepticism
Salvador President Mocks Economist Steve Hanke, Here's Why
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Nayib Bukele, the president of El Salvador and a passionate Bitcoin (BTC) proponent, has responded to Steve Hanke's tirade with a semi-ironic tweet.

Who laughs last?

Today, on Oct. 16, 2021, Nayib Bukele retweeted the opinion of Prof. Steve Hanke of The John Hopkins University, prominent economist and reformer in emerging-market nation-states.

On Sept. 23, when Bitcoin (BTC) was struggling to hold above $40,000, Prof. Hanke stated that Bukele's decision to buy 150 more Bitcoins (BTC) "at the dip" was a bet on the wrong horse.

He also shared the opinion that, under Bukele's leadership, the economy and financial security of El Salvador are in danger.

Now, when the Bitcoin (BTC) price added 55% since Prof. Hanke's tweet, Mr. Bukele recalled this statement.

Bitcoin (BTC) adoption in Salvador gains steam

As covered by U.Today previously, Prof. Steve Hanke is well known for his adamant anti-Bitcoin stance. In particular, he frequently bashes El Salvador's "love story" with the crypto king.

Related
Steve Hanke Shares Details of Why Bitcoin Adoption Is Nightmare for El Salvador’s Economy

Since El Salvador became the first country to recognize Bitcoin (BTC) as legal tender, its authorities launched several eccentric pro-Bitcoin initiatives.

To name a few, El Salvador started implementing "volcanic mining" of the first crypto. Also, Bitcoin (BTC) will be utilized to fund the construction of a veterinary hospital in El Salvador.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)