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President Nayib Bukele has stated that tourism in El Salvador has increased by 95% since the adoption of Bitcoin (BTC) as a legal tender.

During an interview on "Tucker Carlson Today," Nayib Bukele revealed El Salvador's achievements since adopting Bitcoin as a legal tender in 2021:

"This gives us an advantage in the new economic system that is coming. And we have seen some benefits. (...) Our tourism has increased by 95%, and it's partly because of Bitcoin. There are a lot of Bitcoiners that want to travel to the only country where Bitcoin is legal tender. We have Bitcoin conferences, etc. So we have had a lot of tourism because of that, and we've also had a lot of private investment."

https://twitter.com/nayibbukele/status/1632217451197788162?s=20

Nayib Bukele: Bitcoin is an escape from censorship

The President of El Salvador also praised some of Bitcoin's inherent features. He noted that the largest cryptocurrency by market capitalization is used worldwide, even "in countries where it's been banned."

In this particular case, Nayib Bukele emphasized that "you cannot ban it. You cannot censor it. Even if you want to censor it, you can't." He later added:

"There are people looking for an escape from censorship or laws that want to ban this new technology. So they look for countries that are more open to these technologies."

During the interview, he was asked about traditional finance-focused media and companies that criticized El Salvador's decisions. The President noted that they hate such initiatives:

"The IMF, the World Bank, the Federal Reserve, and most, if not all, economic media: Bloomberg, CNBC, Financial Times, Forbes. We've received a lot of negative reports, fake news, and FUD, as Bitcoiners call it. They publish lies (...) but one particular thing about these lies is that they don't last very long."

El Salvador: The first country in the world to adopt BTC as legal tender

September 7, 2021, was indelibly inscribed in human history. On that day, Bitcoin officially became a legal tender in El Salvador.

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Since that day, various initiatives have emerged in this Central American country. A veterinary center was built, which was fully financed using Bitcoin. Geothermal energy is also used to mine BTC.

Nayib Bukele also announced the creation of Bitcoin City. In November 2022, the President of El Salvador announced that he would be buying 1 BTC every day through the DCA strategy.

However, El Salvador is constantly criticized by traditional financial institutions such as the International Monetary Fund and the World Bank.