El Salvador has been making headlines around the globe for months now thanks to its decision to adopt bitcoin as an official legal tender. But after the implementation, what next? There have been numerous calls for the country and its President, Nayib Bukele, to review and repeal this decision as it had the potential to adversely harm the nation’s economy.
Calls came from the IMF and Bank of England to remove the digital currency as legal tender to prevent devastating effects on the county’s economy. However, the numbers for 2021 are in showing record growth in El Salvador’s GDP. But did Bitcoin have anything to do with this growth?
El Salvador Records Double-Digit Growth In GDP
2021 was a rollercoaster for most countries and their economies. Coming out of the 2022 lockdowns, countries had to get creative given that travel was restricted across the globe. While it was off to a rocky start, most countries soon found their footing, and so did El…