Vitalik Buterin Criticizes El Salvador President and Bitcoin Maximalist, Here’s Why
Vitalik Buterin, the co-founder of Ethereum has lashed out at the El Salvador government over their Bitcoin adoption. Buterin’s comments came during his interaction on Reddit where he targeted Bitcoin maximalists and said it’s very easy to impress them as all you need to do is praise BTC and they would be heels overhead. Buterin’s response came in regards to the role of President Nayib Bukele and why he shouldn’t be hailed as a hero. Buterin said,
“Simpler and dumber hypothesis: both for political reasons and because he’s a human being like the rest of us, he just loves being praised by people he considers powerful (ie. Americans). 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’s Bitcoin adoption as legal tender has met with different reactions from different people, the crypto community, in general, were quite elated and backed El Salvador to adopt $BTC, however, mainstream media and opposition groups continued to warn the small Central American nation of possible financial instability.
However, the Ethereum co-founder’s comments came as a shock to many. When asked whether he would have criticized Ethereum Maximalist if a country would choose ETH, Buterin pointed towards numerous occasions when he has been critical of Ethereum proponents.
Is Vitalik Correct in His Criticism?
El Salvador and President Bukele have faced a lot of backlash from the world over Bitcoin adoption, however, it is important to note that US Dollar is still a legal tender in the country and people have a choice between the two. The main concern lies with the overwhelming promotion of Bitcoin use by the President, which according to many outsiders is not right.
President Bukele on the other hand says that BTC adoption is no fluke and is being done to ensure the 70% unbanked population can get access to banking facilities via their mobile phone. El Salvador is also building clean Bitcoin mining rigs running on volcanic energy.
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand
- Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
