United

Vera

Bitcoin

TIME

When President Nayib Bukele announced in June 2021 that El Salvador was adopting Bitcoin as legal tender, it shocked the entire world. The law officially kicked in on September 7 that year. 
Ever since, the country has stayed committed to Bitcoin, despite some pretty rough patches along the way. 
But TIME Magazine reporter Vera Bergengruen, who recently spoke with Bukele, claims that the decision wasn’t about improving the economy at all. According to her, it was a publicity stunt. 
While crypto enthusiasts all over the globe celebrated the news, a lot of Salvadorans weren’t so sure about it. 
The Bitcoin rollout had some serious technical issues, and most of the people didn’t have the tech or knowledge needed to use it properly.&nbsp; 
The government even tried offering a $30 bonus on their Chivo wallet app to get more people on board, but it didn’t really take off. Adoption rates stayed low. 
But Bukele remains super popular at home. His tough approach to crime and corruption resonates with the people who’ve been dealing with decades of violence and insecurity.&nbsp; 
By cracking down hard on gangs and corrupt officials, he’s managed to bring the homicide rate down, which gives many Salvadorans a sense of relief. 
His hardline tactics haven’t gone unnoticed in the United States either. Some Republicans admire his authoritarian streak and anti-establishment attitude.&nbsp; 
They see a leader who’s not afraid to make bold decisions, even if it means bending the rules of democracy a little bit. 
Bukele also bypasses traditional media and speaks directly to the people via social media, often accusing the mainstream media of being biased. 
Vera points out that Bukele’s popularity comes from actually getting things done where others failed. People in El Salvador are tired of empty political promises.&nbsp; 
Sure, his methods might be controversial, but for a lot of folks, the results matter more than the process. 
But Bukele’s approach to governing is raising serious red flags. His tight grip on the media and constant pushback against dissent are causing concerns about the future of democracy in the country. 
In May 2021, his party-controlled Legislative Assembly removed the attorney general and several Supreme Court judges. That action was widely criticized as an attack on the country’s democratic system. 
The way Bukele is concentrating power threatens the checks and balances needed for a healthy democracy. Journalists who try to report independently face harassment, and opposition voices are being silenced. 
There’s real concern that El Salvador could be sliding towards authoritarianism under his leadership. 
In Argentina, another political outsider is shaking things up. Economist president Javier Milei has gained a lot of popularity with his radical libertarian ideas. 
Milei’s appeal comes from his outsider status and his aggressive approach to fixing Argentina’s struggling economy. He’s out here getting rid of the central bank and cutting down government spending. 
Argentina has been dealing with severe economic instability, with inflation rates sitting around 50%. Frustrated voters, sick of the same old political system, were drawn to Milei’s ideas. 
Republicans see him as a possible ally against left-wing efforts in Latin America. They believe his libertarian policies could provide a counterbalance to socialist influences in the region. 
Aligning with leaders like Milei could change the way the U.S. handles trade and security issues in the region, and improve the diplomatic relationships between the two. 
Vera also talked about a recent Department of Justice indictment that uncovered Russian financial support for American right-wing influencers. 
The indictment says Russia has been using money to fund these influencers as part of a larger effort to disrupt U.S. democracy. 
Vera <a href="https://https//podcasts.apple.com/us/podcast/republicans-blame-kamala-harris-for-afghanistan-collapse/id1200016351?i=1000669119542.com/bitcoin-price" rel="nofollow" target="_blank">explains</a> why Russian influence tends to have a bigger impact in smaller countries. These nations often have less stable political systems and fewer resources to fight off foreign interference.&nbsp; 
Because of that, they’re easier targets for Russia’s alleged manipulation. By focusing on these vulnerable nations, the country expands its geopolitical reach.

El Salvador’s Bitcoin affair accused of being nothing but a PR stunt

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