Bitcoin in El Salvador - Part 2 with Nayib Bukele - WBD505

The full interview with President Nayib Bukele, undertaken days
after the Bitcoin Law became effective on September 7th 2021,
sections of which were included in my film “Follow The Money #1 -
Bitcoin in El Salvador”. In this interview, we discuss
motivation, opposition and legacy. 


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A few days following Bitcoin being given legal status, I was
granted an exclusive access interview with President Bukele for
the purposes of my film “Follow The Money #1 - Bitcoin in El
Salvador”. Following the release of the film, it is time to
publish the full interview. 


It has been over 8 months since El Salvador became the first
country in the world to make Bitcoin legal tender. A lot has been
written about El Salvador’s Bitcoin Law, and a lot has happened
since. But what was it like to be at the centre of this
unprecedented event? An event that could change not just El
Salvador’s future, but also Bitcoin’s and the rest of the
world. 


The discussion covers President Bukele’s enthusiasm for what
Bitcoin can do for his country and his people; the incredible
timescale within which the law was passed (it was a mere 3 months
from being enacted to becoming law); the strategy behind the
country’s purchases of Bitcoin; internal and external opposition;
and the plan behind the articles of the Bitcoin Law. 


As background noise to all these changes is vocal concerns about
authoritarian actions Bukele is taking; he has removed judges,
influenced a change in the constitution to enable a potential
second term, had troops enter parliament, and implemented stern
policies aimed at reducing gang violence. The term “dictator” is
banded around. 


Nevertheless, he is an extremely popular president: he has an
approval rating of 85%. Many citizens, sick of the years of
violence and corruption, are pleased to finally see a decisive
Salvadoran President. Could he become a beacon for the wider
region? Could he be the leader of the Bitcoin age?