El Salvador President: Bitcoin has not yet been as widely adopted as we would like

Salvadoran President Nayib Bukele said in an interview with Time magazine that the monetary experiment of using Bitcoin as legal tender has had mixed results. When asked if Bitcoin monetization has been "successful," Bukele said: "Bitcoin has not been as widely adopted as we would like it to be. Many Salvadorans use it. Most of the large businesses in the country use it. The positive thing is that it is voluntary; we have never forced anyone to adopt it. We offer it as an option, and those who choose to use it have benefited from the rise of Bitcoin. I certainly hope that more people adopt it, but we have always prided ourselves on being a free country, free in every way." Nayib Bukele noted that despite the limited effect of Bitcoin's domestic application, it has enhanced El Salvador's "brand", attracted foreign investment, and promoted tourism. Several Bitcoin companies have offices or headquarters in the country.