El Salvador became the center of attraction soon after it passed its Bitcoin law. However, Ethereum’s co-founder, Vitalik Buterin does not seem to understand the hype behind El Salvador’s move and even went on to label it a “reckless” one.
While the entire globe was on a crypto adoption spree, El Salvador joined in on the ride. The country’s crypto-friendly move was lauded by the entire crypto community. Despite garnering angst and hesitation from several international monetary authorities the country did not stop. The law even mandated the need for businesses to accept Bitcoin. However, a significant majority weren’t happy with this decision. Protests disregarding this law took place across the region, however, the government remained untethered and wanted to persist the existing laws.
Commenting on the same, the Ethereum network’s co-founder, Buterin suggested that it wasn’t right to force or mandate businesses to accept crypto. While crypto was started out as a tool of financial freedom to people, forcing individuals to accept it would drive out the essence of the crypto-verse, Buterin noted.
Ethereum’s Vitalik Buterin talks about El Salvador
Buterin went on to leave a comment on the largest cryptocurrency-related subreddit, r/CryptoCurrency. This comment became quite controversial as he called out El Salvador for their latest crypto move. He pointed out that forcing BTC down people who have no experience in the industry was a “reckless” move.
This certainly got the Ethereum co-founder in trouble as Bitcoin maximalists gathered up against him and went on to call him out on his “salty” behavior. One such member tweeted,
Furthermore, he suggested that the citizens of El Salvador would be bound to encounter hacks or scams as they do not have the required knowledge about crypto.
Additionally, speaking about Bitcoin maximalists Buterin added,
“Bitcoin maximalists are a very easy community to get to praise you: you just have to be in a position of power and do or say nice things about them and their coin.”
El Salvador has been going all-in on crypto. From mining operations via volcanic energy to exorbitant BTC purchases, Nayib Bukele, the President of the region did not seem to be steering away from the crypto-verse.