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Mass protests in El Salvador as thousands protest against Bitcoin
Thousands of protesters have taken to the streets in El Salvador, angry at the introduction of Bitcoin as the country’s legal tender
El Salvador President Nayib Bukele remains hopeful that Bitcoin will help the people of his nation that are currently working abroad, transfer money back home.
Protesters however feel the cryptocurrency will bring instability and inflation to the Latin American nation.
During the protests on Thursday demonstrators could be seen setting fire to a brand-new Bitcoin machine, while others spray painted some shop windows.
As of last week, El Salvador officially became the first country to allow the digital currency to be used as legal tender, alongside the US dollar.
The demonstrators, gathered in the capital San Salvador on the 200th anniversary of the country’s independence, brandishing placards reading “No to Bitcoin” and “Respect the Constitution”.
Protesters have accused President Bukele of abusing his authoritative power by allowing Bitcoin to become the country’s legal tender.
