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Nayib Bukele, the El Salvador president and a well-known Bitcoin maximalist, appeared on Twitter to passionately highlight the significance of Bitcoin amid the continuing volatility in the cryptocurrency market. He wrote that the defunct cryptocurrency exchange FTX is different from Bitcoin. He brought up how completely different the business models of FTX and Bitcoin are because of FTX's lack of transparency and unethical management of customers' cash. https://twitter.com/nayibbukele/status/1591951579930058752?
El Salvador President - Passionate Supporter of Bitcoin
Nayib Bukele is a passionate supporter of Bitcoin and thinks it can protect the world economy from the enormous scandals and Ponzi schemes to which it is subject. He said that even the present FTX infection was prevented by the dominating DeFi pioneer. Bailouts, insolvencies, and bankruptcy would not cause chaos. Bukele denounced FTX CEO Sam Bankman-Fried and other financial fraudsters, such as Bernie Madoff, noting that the Bitcoin protocol stops such bad actors from financial misdoings.
Market Valuation Limit
Additionally, he emphasized in his speech in favor of bitcoin that it has a 21 million market valuation limit, making it a genuinely unique asset to acquire globally. He gets answers that dominated the cryptocurrency community's responses.