After President Najib Bukele passed a bill granting Bitcoin (BTC) legal tender status in El Salvador, which will come into effect from September.

It seems that the project did not gain the full confidence of the people, which is evidenced by the opinion polls and the demonstrations condemning it in the streets, as Salvadorans have already begun to express their disapproval in the streets.

Bukele has effectively pushed the law through parliament, thanks to his party’s Nuevas Ideas majority in parliament, but it has yet to address the public discontent as citizens demonstrate in the streets of El Salvador with the phrases:

For bitcoin:

In addition to banners bearing the words “No to the Bukele System,” which appears in the video It was published by the newspaper “La Prensa Gráfica”, where the demonstrators were resentful and expressed their unwillingness to use Bitcoin in El Salvador.

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A left-wing movement “Bloque de Resistencia y Rebeldia Popular” that organized the protest, demanded the repeal of the Bitcoin law, saying:

It was imposed by President Najib Bukele without consulting the people, improvised and without technical studies.

The mass of resistance and popular rebellion is manifested in the Alameda Juan Pablo II, in front of the Civic Cultural Legislative Center (Tweet embed) for delivery to Tweet embed A piece of correspondence calling for the Bitcoin law to be repealed has been around for weeks. pic.twitter.com/UtVpkBcYVj

– Diario Co Latino (DiarioCoLatino) 20 July 2021

Representatives who issued the statement said the new legislation will facilitate illegal activities and monetary chaos and further harm the lower and middle class.

Bitcoin resistance:

While the anti-Bitcoin organization in El Salvador has claimed that according to opinion polls, most El Salvadorans and a majority of businessmen do not agree with the law because it will have negative consequences on prices and income and benefit only a select few.

Analia Peloso, a deputy in the Salvadoran parliament, also expressed concern about the leak of meetings that the president’s brothers held with foreign entrepreneurs to create a digital colon, although the presidency denied any plan regarding a stable Salvadoran currency pegged to the US dollar.

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RT Tweet embed: Members of the Popular Resistance and Rebellion bloc came to propose a repeal of the Bitcoin law. They are greeted by Dina Argueta and Annabelle Bellosopic.twitter.com/CXFLDW4tsr

– El Mundo newspaper (El MundoSV) 20 July 2021

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For the record, the International Monetary Fund and the World Bank had previously criticized El Salvador’s legislation towards Bitcoin immediately and refused to support it, and the National Liberation Front party led by “Farabundo Marti” filed a lawsuit in order to block the “Bukele” legislation, describing it as unconstitutional, but the president said that he Did not see anything illegal.

It seems that Bukele’s decision to adopt Bitcoin as a legal settlement in El Salvador and implement it will not be easy and without resistance either from within or without.

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