IMF warns of “great risks” of bitcoin to El Salvador and Bukele responds with a funny meme

The controversial president of El Salvador, Nayib Bukele, considers it a great idea to have Bitcoin as the currency of his country.

Photo: MARVIN RECINOS/AFP/Getty Images

The International Monetary Fund (IMF) warned the government of El Salvador last week about the “great risks” it may face for using Bitcoin as legal tender, but apparently its president, Nayib Bukele did not give it much importance because he answered with a funny Simpsons meme.

The IMF told the Central American country that Bitcoin could represent problems related to the market integrity, financial stability and consumer protection.

IMF executives have urged Salvadoran authorities to “reduce the scope of the Bitcoin Law,” by remove the status of cryptocurrency as tender.

They have also expressed their concern about the risks associated with the issuance of Bitcoin-backed bonds.

IMF officials have taken the issue very seriously and on Monday concluded El Salvador’s Article IV consultation, an exercise in bilateral discussions to assess the economic and financial situation of its member countries.

But nevertheless, Bukele responded to all this with a meme that says “I already saw you, IMF. Very pretty”accompanied by a gif in which Homer, representing the IMF, tries to attract attention at all costs.

Beyond the meme, the Salvadoran government He did not answer anything official in the face of the agency’s concerns international financial.

The adoption of Bitcoin as a payment currency is one of the main projects on Bukele’s agenda and it will apparently continue to be, despite the fact that the value of the currency fell more than 10% last week and was below $35,000. dollars, its lowest level since July. The cryptocurrency adds a drop of around 50% from its last maximum level, registered in November 2022.

You may also like:

Nayib Bukele made El Salvador lose millions of dollars due to the fall of bitcoin

The United States puts two Nayib Bukele officials linked to organized crime in El Salvador on a “blacklist”

El Salvador on the way to being “another Venezuela”, fears Biden Administration