El Salvador’s President Nayves Bukele has issued another message pointing out that millionaires around the world will soon begin buying Bitcoin. It will increase the demand of cryptocurrency with not enough supply and eventually the price will skyrocket. Recently he tweeted “A gigantic price increase of bitcoin is just a matter of time”.
President Nayb Bukele is already under lots of pressure due to the recent Bitcoin price correction. His persevered purchase of Bitcoin via the National Treasury has triggered some large institutions such as the International Monetary Fund (IMF). Last week, the International Monetary Fund (IMF) once again requested El Salvador to repeal Bitcoin as a fiat currency. However, Bukele’s recent tweets show that he’s no longer in the mood to even address the constant requests from the IMF.
Many countries and jurisdictions are keeping an eye on El Salvador tracking its next move on cryptocurrency. Interesting, even the US state of Arizona is also making plans to make Bitcoin a fiat currency soon.
Read more:
- El Salvador To Cancel Bitcoin Legal Tender on IMF recommendation?
- El Salvador is offering Bitcoin-backed loans
