El Salvador, a small Central American nation known for its dramatic embrace of Bitcoin, has recently made headlines with claims about its commitment to free speech and its expanding bitcoin portfolio.
President Nayib Bukele has been vocal about his country’s position on these issues, asserting that El Salvador offers a unique blend of safety and freedom. These claims come amid the recent arrest of Pavel Durov, the founder and CEO of the messenger app Telegram in France.
In recent statements, President Nayib Bukele has emphasized that El Salvador is a bastion of free speech. Bukele’s assurances of freedom and safety in the country have made rounds in social media.
He stated on X that El Salvador is the safest country in the Western Hemisphere, where free speech is protected without fear of arrest, censorship, or asset seizure.
This message comes in response to raising concerns about freedom of speech worldwide. He further noted that there is no property tax in the country, adding to the appeal for residents and investors.
The recent arrest of Durov has brought international attention to El Salvador’s claims.
Durov was detained at a French airport, reportedly due to allegations that Telegram was used to facilitate criminal activities. His arrest has sparked global reactions, with many seeing it as a significant moment for discussions on free speech and governmental control.
In response to Durov’s arrest, Bukele used the opportunity to further promote El Salvador as a safe haven for free speech.
Tucker Carlson, previously the host of nightly political talk show “Tucker Carlson Tonight” on Fox News, discussed this event, noting that while Durov left Russia to avoid government control over his platform, it wasn’t Russia but a Western country allied with the Biden administration and NATO that eventually arrested him.
Carlson warned that Durov’s imprisonment in France serves as a cautionary tale for platform owners who resist government censorship, suggesting that freedom is increasingly under threat in the West.
Elon Musk also highlighted Durov’s arrest, and responded rather humorously, tweeting, “POV: It’s the year 2030 in Europe and you’re being executed for liking a meme.”
Musk also reacted to a post by “End Wokness” on X, which stated that “Free speech is under attack all across the globe.” Musk said that these are “Dangerous times.”
American businessman and politician Vivek Ramaswamy also weighed in, noting that Telegram faces certain issues now, and predicted that X will encounter similar problems in the future. Musk agreed, acknowledging that there’s a high likelihood of facing similar challenges himself.
In addition to the news related to freedom of speech, El Salvador has also recently made headlines for its bitcoin treasury. El Salvador’s bold move to adopt bitcoin as legal tender in September 2021 remains a defining feature of its economic strategy.
Under Bukele’s leadership, the country has embraced a daily bitcoin acquisition strategy, buying one bitcoin every day since March 2024. As of now, El Salvador’s bitcoin holdings have surpassed 5,800 BTC, valued at approximately $372 million.
Bukele’s administration has been keen to highlight the benefits of this bitcoin strategy. The country’s innovative approach includes using geothermal energy from volcanoes for Bitcoin mining.
Related: El Salvador Using Geothermal Energy to Become a Bitcoin Mining Powerhouse
Since 2021, El Salvador has mined about 474 bitcoin, worth around $29 million, showcasing its commitment to integrating bitcoin into its economic model.
El Salvador’s bitcoin holdings and ongoing acquisitions have led to significant unrealized gains. Reports estimate that the Salvadoran government is sitting on over $93.45 million in unrealized gains, suggesting that Bukele’s Bitcoin strategy is yielding positive results.
The adoption of Bitcoin has spurred a niche tourism boom in El Salvador, although it has also attracted criticism from international financial institutions like the IMF.
Despite the controversy, Bukele remains steadfast in his vision, viewing Bitcoin as a path to economic development and financial innovation.
As Bukele continues to promote El Salvador as a model for free speech and Bitcoin innovation, the international community will be closely watching how these claims hold up against ongoing criticisms and challenges.
The balance between promoting freedom of expression and addressing concerns about democratic integrity will be crucial for the country’s future.
