El Salvador Bitcoin: Strike CEO Separates Himself From Slow Growth of BTC Adoption 

Strike CEO

Latin American country El Salvador is apparently the first country in the world to make bitcoin as a legal tender. Following the grand plan of making a bitcoin city within the country, President Nayib Bukele also thought of normalizing use of cryptocurrency. To help El Salvador President in his plan to increase bitcoin use in the region, Strike was among the prominent supporters. 

Strike is a Chicago based payment solution company, who’s founder and CEO Jack Mallers recently stated about no effect of bitcoin’s slow pace use in El Salvador. Mallers said the company is not anyhow in tandem with slow growth of El Salvador’s bitcoin adoption. He said it does not affect his company. 

Strike CEO said the company is commercially related with the country. Since the company was involved in advising the El Salvador President, he Mallers also clarified the advice was also not based on any revenue projections. Moreover the company has no effect of this anyhow. 

Meanwhile there were several reports stating the failure of El Salvador’s initiative to treat bitcoin as legal tender. 

Mallers while clarifying his and his companies stated that they are not consultants of the government and echoed the stance of having no commercial relation with them. 

According to Mallers, the instance was similar to someone asking for his help citing his relation with crypto and bitcoin. Since he has seen the crypto industry from very close and spent about ten years—helping many governments and so many individuals. He went on to say that he will continue to do the same as helping following his moral ethics. 

While appreciating the efforts of the El Salvador government, Mallers said they were successful in promoting bitcoin. However, he argued the potential reasons for the initiative to not perform up to the mark is due to the country’s historic economic situations. He said the country has experienced inflation, faced stringent regulations of central banks, etc. 

Source: https://www.thecoinrepublic.com/2022/10/01/el-salvador-bitcoin-strike-ceo-separates-himself-from-slow-growth-of-btc-adoption/