Not to defend El Salvador or the idea of governments "adopting" bitcoin, but this opening section:
While some embedded faults were inherited by the current government and President Bukele in 2019, a majority of the problems and mismanagement that necessitated an IMF bailout arose only after 2019.
Is just objectively not true. The presidents before Bukele were robbing the treasury blind. If you just look them up online, one after the other, they were all under investigation or being charged with huge financial crimes. El Salvador inherited a financial mess when Bukele took over. You'll seldom find a country with such a shit record of verifiable corruption from one administration to the next.
Getting that so wrong, I'm skeptical of the rest of the article and the guy who wrote it. Anyone can talk shit on Substack.
Not to defend El Salvador or the idea of governments "adopting" bitcoin, but this opening section:
Is just objectively not true. The presidents before Bukele were robbing the treasury blind. If you just look them up online, one after the other, they were all under investigation or being charged with huge financial crimes. El Salvador inherited a financial mess when Bukele took over. You'll seldom find a country with such a shit record of verifiable corruption from one administration to the next.
Getting that so wrong, I'm skeptical of the rest of the article and the guy who wrote it. Anyone can talk shit on Substack.