Salvadoran minister Alejandro Zelaya brushed off the media criticism of the nation’s investments in Bitcoin.
Alejandro Zelaya, the Minister of inance of El Salvador, reacted to the recent media attacks on the nation’s strategy of investing in Bitcoin (BTC) by calling the allegations of fiscal risks “extremely superficial.”
During a press conference held on Monday, Zelaya responded to a journalist's question about the government's reaction to Bitcoin's sharp dip in an emotional manner:
“There is a clear criticism of Bitcoin as such, not of El Salvador's strategy. El Salvador is what interests them the least, they [the media outlet] are not interested in what happens to our economy, they are not interested in what happens with our people, what happens with inflation.”
The official underscored the impropriety of allegations that around $40 million had been lost by the country’s budget because of the cryptocurrency rate drop since the highest point at which El Salvador has purchased its first potion for $60,300 per BTC in October 2021. Zelaya pointed to the hypothetical possibility of a BTC rebound:
“I have said it repeatedly: A supposed loss of 40 million dollars has not occurred because we have not sold the coins.”
Zelaya also rebuffed the assumptions about high fiscal risk as laughable and ignorant, while calling the risk “extremely minimal.”
( David Attlee, Cointelegraph, 2022 )