Is bitcoin adoption in El Salvador a failure? See what El Salvador's Deputy Dania Gonzalez said about bitcoin adoption in her country
Falling Bitcoin price doesn't affect El Salvador: 'Now it's time to buy more,' reveals Deputy Dania GonzalezDania Gonzalez, Deputy of the Republic of El Salvador reveals how bitcoin adoption has been helping her country. She talked about how bitcoin is an investment asset, she also talked about the reason to buy more bitcoin when the price has gone down. Also she talked about the socioeconomic impact of bitcoin that was made a legal tender in her country.
Between her agendas, Gonzalez spoke with Cointelegraph and revealed how Bitcoin has helped to change people's lives in El Salvador and how the federal government, led by President Nayib Bukele, has been taking advantage of the resources invested in BTC to improve the economy.
Part of what she said:
"What Nayib Bukele did was buy Bitcoins and make a profit at a certain strategic moment,” she said. “In cryptocurrencies, there are times when you can make a profit and there are times when you have to invest more. Now cryptocurrency is down, this happens, it's normal, but at this point instead of being sad, instead of thinking that you lost all your investment, it's time to buy more Bitcoins because now the price is cheap, that's the strategy.”
Bukele built a veterinary hospital to benefit the population where services, any service for your pet, costs US$0.25. Even an operation costs this amount and that is accessible to the entire population. Bitcoin has been converted into a benefit for the people. Now with the reserve we have in Bitcoin, we must build 20 more schools. Before Bitcoin, to do this we had to approve projects, include it in the nation's general budget and use people's money to construction. Now these works are done thanks to all the profits made with Bitcoin.”
Gonzalez indicated that Bukele’s strategy has already proven to be successful in terms of socioeconomic impact.