<img src="http://bitcoinmagazine.com/.image/c_limit%2Ccs_srgb%2Ch_1200%2Cq_auto:good%2Cw_1200/MTg0MjMzMzU2NjAxMzM3Njg1/nayib-bukele-bitcoin-el-salvador.png” />
The Vice President of El Salvador, Félix Ulloa, has expressed his belief that bitcoin adoption is playing a critical role in the country’s economic and political resurgence.
In a new interviewbitcoin-adoption-is-helping-el-salvadors-rebirth/?sh=2cd4b7c94250″>with ForbesVice President Ulloa described it as an engine of a transformation that is driving tourism, investment and economic growth.
Ulloa stated that “without a doubt, tourism and the use of digital currencies go hand in hand and are a sign of that future and the rebirth of our country.”
He went on to emphasize that the adoption of bitcoin has facilitated an open, borderless financial system, opening up new opportunities for Salvadorans and the nation as a whole that have countered a rise in international criticism.
“There were reactions in both directions. Some multilateral organizations initially raised objections. Still, the enthusiasm that began in the field of the digital economy, with the bitcoiners, where El Salvador, having positioned itself as the first country to adopt a cryptocurrency as currency legal tender, “was at the forefront and attracted many investors who are in fact installed in Salvador,” he explained.
El Salvador’s journey into the world of bitcoin attracted a lot of attention when it became the first country to adopt bitcoin as legal tender in September 2021. This historic measure, promoted by President Nayib Bukele, allowed citizens to carry out transactions in bitcoin, promoting financial inclusion and providing access. to a global financial ecosystem.
The combination of financial inclusion, tourism growth, and increased investment demonstrates bitcoin‘s potential to spur economic development and inspire other nations to explore innovative approaches to their financial systems.
