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Tucker Carlson’s interviews often generate significant attention, featuring guests who align with his perspective. Carlson, known for his divisive right-wing commentary, has conducted interviews with notable figures such as Russia’s Vladimir Putin and Hungary’s Viktor Orban. Recently, El Salvador’s President Nayib Bukele joined this list.
Bukele has gained recognition in crypto circles after El Salvador became the first country to adopt Bitcoin as legal tender in September 2021. However, the journey has been challenging. According to the University of Central America’s Public Opinion Institute, only 12% of Salvadorans used BTC for transactions last year, and the adoption rate for remittances was even lower at 1%.
Despite grand plans for “Bitcoin City” at the base of a volcano during the 2021 bull market, the project has yet to materialize. However, there is a positive aspect: El Salvador’s BTC holdings have significantly increased in value. According to NayibTracker.com, the country now owns 5,777 BTC valued at $379.9 million, with a paper profit of $69 million.
El Salvador now owns 5,777 BTC worth $379.9 million, with paper profits of $69 million.
Initially, Bitcoin enthusiasts were excited by Bukele’s frequent announcements of large BTC purchases. However, these announcements ceased around July 2022 after the market downturn, with BTC dropping from $69,000 to $20,000 in nine months. In November, Bukele introduced a more subtle strategy, declaring that El Salvador would buy one Bitcoin daily. Records indicate that this strategy has continued, with BTC holdings growing incrementally by 1 BTC each day.
For those expecting a significant Bitcoin update in Bukele’s interview with Carlson, there was disappointment as the cryptocurrency was not mentioned. Instead, the discussion focused on topics like “Bukele’s mission to save El Salvador,” “Bukele’s three-point economic plan,” and “Is Western civilization dying?”
Bukele used the platform to highlight claims from Salvadoran security officials that the homicide rate has dropped to 2.4 per 100,000 people, much lower than in the U.S. However, independent observers have questioned the accuracy of these figures, suggesting that violent deaths are underreported. Bukele also imposed a state of emergency to tackle gangs and reduce crime, a policy that has been well-received by the population. However, there are concerns about the 76,000 arrests made, with allegations of insufficient evidence and documented cases of abuse against prisoners.
Carlson described Bukele as “literally the most popular elected leader in the world,” but this does not capture the full picture. El Salvador’s constitution previously allowed presidents to serve only one consecutive term. However, changes in the judiciary permitted Bukele to run again, leading to a landslide victory and hints of a potential third term.
The interview was light on nuance and hard questions, focusing heavily on praise for Bukele’s leadership. However, there is a broader context, as opposition politicians and everyday Salvadorans would attest. In the crypto world, Bukele is often praised for his Bitcoin enthusiasm, describing himself as “the world’s coolest dictator.” Yet, this is just one aspect of his leadership in a country where 27% of the population lives in poverty.
As Bitcoiners often say, when concerned about a price drop, it’s crucial to zoom out and consider the bigger picture.
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