According to the head of the Ministry of Finance of El Salvador A. Celaya, the country is not going to abandon Bitcoin. Previously, international financial institutions called on the leadership of El Salvador to abandon Bitcoin and stop using it in its economy.
But, according to the head of the Ministry of Finance, El Salvador is not going to do this, and the infrastructure for using the leading cryptocurrency continues to expand.
Due to the fact that it was possible to legalize Bitcoin, the authorities were able to attract more foreign investment, and more tourists visited El Salvador. In addition, soon, once the situation allows, the authorities will place bonds in Bitcoin for a total amount of one billion dollars. It was planned to do this earlier, but due to the crisis in the cryptocurrency market, El Salvador had to postpone the placement of bonds.
Despite the fact that the country’s financial system suffered greatly due to the fact that the Bitcoin exchange rate fell sharply, the authorities still did not abandon it. Therefore, no appeals from international financial funds and organizations will be accepted. Bitcoin has already become part of the financial system of El Salvador and the government will continue to improve the infrastructure for its use.
