El Salvador Views Bitcoin as a Tool to Liberate the Nation From Fiat Currencies

Felix Ulloa, Vice-President of El Salvador, stated that the government has considered de-dollarizing the country and returning to its national currency, the colon. However, he said that it would be too costly. For Ulloa, bitcoin presents an opportunity to liberate the country from central banks and fiat currency.

El Salvador’s Vice-President Felix Ulloa: Bitcoin Offers an Option to Liberate the Country From Fiat Currencies

El Salvador’s bitcoin roadmap might include a deeper integration of the crypto asset as part of its economic future. Felix Ulloa, Vice-President of El Salvador, recently stated that bitcoin might become a tool to liberate El Salvador from using fiat currencies, including the U.S. dollar.

In an interview with Russia Today (RT) at the sidelines of the San Petersburg International Economic Forum (SPIEF), Ulloa highlighted the opportunities that bitcoin adoption has brought to the country regarding economic freedom. When asked about the possible de-dollarization of El Salvador and its relation to bitcoin, Ulloa stressed that they had studied that case before and that returning to the Salvadoran colon would burden the state heavily