In the realm of interviews, Tucker Carlson is known for shedding more light than heat, often selecting guests who share his perspective. Renowned for his controversial views, Carlson has recently engaged in friendly conversations with prominent autocrats such as Russia’s Vladimir Putin and Hungary’s Viktor Orban. Now, he adds another name to his list: Nayib Bukele of El Salvador.
Bukele gained recognition in the cryptocurrency community when El Salvador became the first country to adopt Bitcoin as legal tender in September 2021. However, the road has been rocky. Despite the hype surrounding the decision, only a small percentage of Salvadorans actually conducted transactions using BTC last year. The use of Bitcoin for remittances, a key aspect of the plan, remains even lower at just 1%.
While Bukele boasted about plans for “Bitcoin City” near a volcano during the peak of the 2021 bull market, the project has yet to materialize. Nevertheless, El Salvador’s BTC holdings have seen a significant increase in value, now totaling 5,777 BTC valued at $379.9 million, with paper profits of $69 million.
Initially, Bukele’s bold moves in the crypto space excited enthusiasts, with announcements of large Bitcoin purchases reminiscent of Michael Saylor. However, as market conditions shifted, the president’s strategy evolved. Instead of grand gestures, El Salvador began buying one Bitcoin daily, steadily growing its balance over time.
In a recent interview with Tucker Carlson, Bukele’s focus was on topics such as his vision for El Salvador, the economic plan he has in place, and broader questions about the state of Western civilization. Notably absent from the conversation was any mention of Bitcoin, much to the disappointment of crypto enthusiasts.
During the interview, Bukele highlighted a decrease in the country’s homicide rate, praising his administration’s efforts to combat crime. However, independent analysts have raised doubts about the accuracy of these statistics, suggesting that violent deaths are underreported. Allegations of human rights abuses, including torture, have also been documented by organizations like Amnesty International.
Despite Carlson’s praise for Bukele’s leadership and popularity, critics point to concerns about democratic norms being undermined in El Salvador. Changes to presidential term limits and allegations of arbitrary arrests raise questions about the true nature of Bukele’s rule.
In the world of cryptocurrency, it’s easy to admire Bukele for his embrace of Bitcoin, but it’s essential to consider the broader context of his leadership. As El Salvador grapples with poverty and human rights challenges, a nuanced perspective is crucial. Just as in the world of crypto, where a long-term view is necessary, understanding the complexities of Bukele’s presidency requires zooming out and looking at the bigger picture.