Salvadorans Protest Against Bitcoin as Legal Tender - Reports

MEXICO CITY (Sputnik) - Hundreds of people in the city of San Salvador took part in a rally against the adoption of bitcoin as legal tender in El Salvador, media reported on Tuesday.

The law took effect on Tuesday, which made the Central American nation the first country to adopt bitcoin as a legal currency.

"The government does not listen to the needs of the people, and the new law not only fails to benefit the country, but also hampers the economy of El Salvador," protesters said, as quoted by the Salvador news outlet.

Those protesting, including social and civil organizations and peasants, claim they do not want to use the cryptocurrency and see the move as a money laundering attempt.

Thousands take streets to protest the #Bitcoin law in El Salvador. pic.twitter.com/mULJqABH7x

— Marc Falzon (@MarcFalzon) September 7, 2021

The opposition accuses Salvadoran President Nayib Bukele of pursuing this policy for personal enrichment. They also note that bitcoin is legalized in light of possible dollar deficit.

On Tuesday evening, the bitcoin prices fell down by 9% after Bukele announced his country had purchased another 200 bitcoins. Later, El Salvador bought another 150 bitcoins.

Starbucks accepting #bitcoin as payment in El Salvador 🧡pic.twitter.com/FIUXo8OKVp

— Bitcoin Magazine (@BitcoinMagazine) September 7, 2021

Just walked into a McDonald's in San Salvador to see if I could pay for my breakfast with bitcoin, tbh fully expecting to be told no.

But low and behold, they printed a ticket with QR that took me to a webpage with Lightning invoice, and now I'm enjoying my desayuno traditional! pic.twitter.com/NYCkMNbv7U

— Aaron van Wirdum (@AaronvanW) September 7, 2021