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“FTX is the opposite of Bitcoin.”

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Key facts:
  • For Bukele, Bitcoin avoids financial scams.

  • The president of El Salvador believes it is still “early days” and alludes to the scarcity of Bitcoin.

A few minutes ago, the president of El Salvador, Nayib Bukele, launched on Twitter his opinion on the FTX case Make a comparison between the collapsed exchange platform and the Bitcoin electronic cash network.

For the Mandatory.FTX is the opposite of Bitcoin,” as this protocol “was created precisely to prevent Ponzi schemes, bank failures, Enron, WorldCom, Bernie Madoff, Sam Bankman-Fried….” This is a clear allusion to historical financial catastrophes, those who were involved in them, and those who were bailed out. includes the creator of FTX as one such case.

He adds that this technology also avoids “bailouts and reallocations of wealth,” something to which the same Satoshi Nakamotothe creator of Bitcoin, referred to the first set of transactions on this network, the genesis blockanchoring as metadata the message “The Times 03/January/2009 Chancellor on brink of second bailout for banks.” This message refers to a headline published that day in the British newspaper The Times, translated as “Chancellor on brink of second bailout for banks.”

Similarly, Bukele, who won the legalization of this digital currency in his countrysays that Bitcoin, launched as a network in January 2009, “Some people understand it, others don’t yet. We are still in our infancy.” And he ends his message with “🌎/21m,” indicating the expected shortage of 21 million coins, which would be divided among all the people of the world.

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