El Salvador’s Presidential Advisor: Bitcoin Adoption Is a “Rebranding” and “PR Move”

Odaily Odaily reported that Vera Bergengruen, a reporter for Time magazine, said that advisers to Salvadoran President Nayib Bukele called El Salvador's adoption of Bitcoin a "great rebranding" and a "thorough PR move" aimed at "changing the international community's view of the country." Before entering politics, Bukele briefly led his family's public relations company and later became mayor of Nuevo Cuscatlán, mayor of San Salvador, and president of El Salvador. "I think the most important thing is... his past experience as a public relations person," Bergengruen said of Bukele. "It's important to understand that everything he does, from Bitcoin to fighting gangs, is to build an image first and then the results." Since the announcement of Bitcoin legalization in 2021, the policy has caused confusion, forcing the Bukele team to promote the potential benefits of Bitcoin. Bukele once proposed the establishment of a volcano-powered "Bitcoin City", but the project has not been completed yet. He also regularly discusses buying Bitcoin with state funds, and there are currently about $400 million in Bitcoin in the "public wallet." Bukele will continue to serve as president until 2029. (Cointelegraph)