- Some surveys state that Nayib Bukele is one of the most liked presidents in El Salvador’s history.
- El Salvador is the first country to adopt Bitcoin as a legal tender.
Recently Cristosal, a nonprofit human rights organization, has filed three different cases against Nayib Bukele, the president of El Salvador, desiring information about transactions of funds used for purchasing Bitcoin.
An anti-corruption spokesperson of Cristosal noted that one of the cases had to do with the illegality of reforms made to laws concerning these expenditures.
Similarly, the second lawsuit has to do with the lack of investigation that the Accounts Courts of the Republic, the control organization, has exerted on the expenses derived from the implementation of Bitcoin Law, including the construction of booths, acquisition of ATMs, installation of the platform and application for the convertibility and management of bitcoin.
Lopez noted, “There is no control on the platform over the identity that buys and sells Bitcoin. Until now, all Salvadorans have presumptions about how it works and how much has been spent.”
The third lawsuit will be exerted before the Inter-American Court of Human Rights and is related to the identity theft more than 200 Salvadorans faced when delivering their data to the Chivo Wallet system.
The President of El Salvador noted on November 17, “We are buying one Bitcoin every day starting tomorrow.”
El Salvador holds a total of 2,381 BTC at an average price of $43,357. As of June 30, 2022, the country last purchased 80 BTC, costing them $19,000 per coin with a total investment of $1,520,000.
On July 1, 2022, Nayib Bukele posted on Twitter that “El Salvador bought 80 BTC today at $19,000 each! Bitcoin is the future! Thank you for selling cheap.”
However, the country officialized BTC as a national legal tender in September last year. But despite fear of BTC value amid FTX collapse, some believe that BTC will bounce back.
Lopez concludes by mentioning, “The Salvadoran population does not feel identified with bitcoin, but it is also of no use to them, because it is not a population that invests, since it is barely enough for them to eat.”
According to some reports Nayib is the most popular president in El Salvadoran history and is rated above 8 from the rating of 10.
In April, the Minister of Tourism, Morena Valdez, gave an interview with the Salvadoran TV channel, Channel 21. There she explained that tourism in the country has grown by 30 thanks to the perpetration of Bitcoin.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/11/30/nayib-bukele-up-to-face-lawsuit-from-cristosal/