Retirees in El Salvador protest Bitcoin adoption

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As El Salvador prepared to officially enforce the country’s Bitcoin (BTC) law in early September, Salvadorans took to the streets to protest the adoption of BTC as the official currency.

El Salvador’s anti-Bitcoiners have expressed dissatisfaction with the government’s plans to adopt Bitcoin as legal tender, with hundreds of protesters marching through the capital San Salvador last Friday, Euronews television reported.

Protesters, including retirees, veterans, disabled retirees and workers, have raised concerns about the volatile price of Bitcoins. The crowd feared the government would start paying their pensions in Bitcoin instead of the US dollar.

We know that this coin fluctuates considerably. Its value changes every second, and we will have no control over it, Supreme Court of Justice workers union member Stanley Quinteros has reportedly said. Salvadorans have also expressed concerns about the lack of knowledge and understanding of the technology needed to use cryptocurrencies like Bitcoin. Protesters held up signs saying we don’t want Bitcoin and not corrupt money laundering.

MOST HUMBLE PEOPLE DON’T WANT #BITCOIN, EVERYBODY #Don’t want Bitcoin, only #BUKELES want #Bitcoin. pic.twitter.com/YeAafHGCqS

– Blanca Huezo (@blanca_huezo) August 26, 2021

According to local reports, the latest anti-Bitcoin protests in El Salvador were apparently part of a wider opposition campaign led by local veterans protesting low pensions on August 27. As such, some protesters have reportedly called for an increase in their pensions from $ 100 to $ 300.

Related: Adoption of Bitcoin in El Salvador Could Transform Remittances to Central America

The latest anti-Bitcoin protests in El Salvador followed growing skepticism about the country’s Bitcoin decision. Last week, the Salvadoran Association of International Freight Forwarders reportedly launched anti-Bitcoin protests, asking the government to reconsider the mandatory acceptance of Bitcoin in El Salvador.

As previously reported by Cointelegraph, Salvadoran President Nayib Bukele announced legislation in early June to accept Bitcoin as legal tender alongside the US dollar. The bill was then passed by the country’s legislature and is expected to be implemented on September 7. Last week, the president clarified that Salvadorans would be free not to use Bitcoin, saying:

What if someone doesn’t want to use Bitcoin? Do not download the Chivo app and continue living your normal life. No one is going to take your dollars. Someone can still stand in line at Western Union and pay a commission.

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