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President of El Salvador: Bitcoin has not yet achieved the widespread adoption we had hoped for

El Salvador's president, Nayib Bukele, said in an interview with Time magazine that the monetary experiment of using bitcoin as a legal tender has had mixed results. When asked if the monetization of bitcoin had been "successful", Bukele said: "Bitcoin has not been widely adopted as we would have liked, and many Salvadorans are using it. Most of the big businesses in the country are using it. On the positive side, it is voluntary; we have never forced anyone to adopt it. We offer it as an option, and those who choose to use it have benefited from the rise of bitcoin, and I certainly hope that more people adopt it, but we have always prided ourselves on being a free country, free in every way." Nayib Bukele pointed out that while bitcoin has had limited domestic adoption, it has boosted El Salvador's "brand", attracted foreign investment and boosted tourism. Several bitcoin companies have offices or headquarters in the country.