Bitcoin in El Salvador - Part 2 with Nayib Bukele

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The full interview with President Nayib Bukele, undertaken days after the Bitcoin Law became effective on September 7th 2021, sections of which were included in my film “Follow The Money #1 - Bitcoin in El Salvador”. In this interview, we discuss motivation, opposition and legacy.
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TIMESTAMPS:
00:00:00 Days after the launch
00:09:38 Observers wanting El Salvador to fail
00:22:20 El Salvador buying Bitcoin; Bukele’s gamble?
00:26:35 Internal opposition to the Bitcoin Law
00:35:38 Bukele’s legacy
00:45:58 Article 7 of the Bitcoin Law
00:50:13 Changing the constitution; removing judges - dictatorial leanings?
01:04:28 Gender equality in El Salvador
01:09:42 A last word about Bitcoin’s importance
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****
“I don’t think it’s going to work, I’m sure it’s going to work. Because the fundamentals are there. We can have some bumps in the road like everything… but, the fundamentals are the same. And it’s going to work because the philosophy of it is right. Just give it time. It’s going to work for El Salvador, it’s going to work for Bitcoin, it’s going to work for the world.”
- Nayib Bukele
The full interview with President Nayib Bukele, undertaken days after the Bitcoin Law became effective on September 7th 2021, sections of which were included in my film “Follow The Money #1 - Bitcoin in El Salvador”. In this interview, we discuss motivation, opposition and legacy.
- - - -
A few days following Bitcoin being given legal status, I was granted an exclusive access interview with President Bukele for the purposes of my film “Follow The Money #1 - Bitcoin in El Salvador”. Following the release of the film, it is time to publish the full interview.
It has been over 8 months since El Salvador became the first country in the world to make Bitcoin legal tender. A lot has been written about El Salvador’s Bitcoin Law, and a lot has happened since. But what was it like to be at the centre of this unprecedented event? An event that could change not just El Salvador’s future, but also Bitcoin’s and the rest of the world.
The discussion covers President Bukele’s enthusiasm for what Bitcoin can do for his country and his people; the incredible timescale within which the law was passed (it was a mere 3 months from being enacted to becoming law); the strategy behind the country’s purchases of Bitcoin; internal and external opposition; and the plan behind the articles of the Bitcoin Law.
As background noise to all these changes is vocal concerns about authoritarian actions Bukele is taking; he has removed judges, influenced a change in the constitution to enable a potential second term, had troops enter parliament, and implemented stern policies aimed at reducing gang violence. The term “dictator” is banded around.
Nevertheless, he is an extremely popular president: he has an approval rating of 85%. Many citizens, sick of the years of violence and corruption, are pleased to finally see a decisive Salvadoran President. Could he become a beacon for the wider region? Could he be the leader of the Bitcoin age?

[@dandymoderne]

Bukele will leave his name in the history for resistance against IMF

[@redman6790]

Great to see

[@mikegollihugh7992]

@@daniellegler4011 why be one of the people cheering for him to fail, I support him and BTC 100% with everything. On my life, literally anything, we need to end the IMF

[@shayson1357]

haha very funny, you think the IMF is your enemy :D

[@thepapervigilante2208]

Very brave bukele indeed

[@Irvin3986]

Totally agree . Why wish on him and a whole country to fail. He did a huge gamble he has a vision , hope it doesnt backfire

[@gersonmoran8712]

We didn't lose anything; we have every coin yet. -Nayib Bukele. Amazing!

[@louispouliot4102]

Amazing ????

[@eperez5183]

True that.

[@eperez5183]

Y Senores esos se llaman cojon$##!. Haters. Lo critican porque no Lo pensaron Ellos. Cuhando hagan lo que El ha hecho talvez entonces los Vanya escuchar.

[@sluggo3slug]

What a fantastic leader. He’s got El Salvador’s people’s back. And actually the world’s 🌎

[@user-DongJ]

Long live President Bukele! May the good people of El Salvador enjoy great peace, progress & prosperity for Ten Thousand years! 🙏

[@palushvatiqi7035]

In my opinion, El Salvador president is the smartest person. I’m very pleased to see & hear him speak for his people.

[@toncoppens3962]

I think we can help Bukele and El Salvador just by holding our own Bitcoin. Then we the people make it work. I think Bukele deserves to have a great legacy.

[@TarikSammour]

Gotta say, the dude seems pretty honest as far as politicians go...

[@canalfixe]

Bukele is fighting for our freedom. Thank you sir.

[@britt7299]

Never in the last decades I have heard leaders of the 'first world country's' talk in such a compassionate & human way. Take all that together with a morality compass, I would say President Bukele is one of the greatest leaders of our time!

[@michaelsmorenburg-writer8480]

The more I watch Bukele, the more I like him.

[@Idefix-es5ot]

And that is without you knowing Spanish, when you research him in Spanish you realize that he’s in a league of his own.

[@rwess]

Fixing human nature is a HUGE task, but he's trying in one part of the world. Bravo.

[@tomaszs1243]

I actually wouldn't mind moving to El Salvador not because of Bitcoin but because of Bukele. Wish more world leaders shared his qualities!

[@zenonvandeventer5229]

Legend if he stays the course.

[@nsiebenmor]

It seems too dangerous there

[@kevinchavarria6792]

@@nsiebenmor It's becoming safer now with Bukele not perfect but much much safer

[@BobSayG]

El Salvador President term is 1 term only so you will need to move elsewhere where in a few years.

[@ricarda8967]

Thank you president Bukele, 90% of us salvadoreños love you, Bukele 2024.

[@joesnow8544]

I moved from Holland to El Salvador would recommend everyone to do that. The economic & personal freedom is worth everything!

[@joesnow8544]

@@simbiotik8480 41, moved with my wife and 2 kids.

[@flowbrandz316]

Is it really that much better?(Im asking genuinely, not sarcastically). I'm from and currently living in the U.S.

[@uncivilizedengr4873]

30% income tax + 13% sales tax? not sure that qualifies as "freedom", but hey at least you can pay for your oppression in bitcoins...?

[@Arellisimo]

Ook wij komen eraan, t minus 2 weekjes🙏🏽

[@joesnow8544]

@@flowbrandz316 of course the standard of living is lower than in the us. But after a few weeks your used to it. I recommend you to come to El Salvador stay a few weeks and you understand what i mean.

[@pozohondo6336]

Desde Argentina Bukele, te mando un abrazo grande a vos y a todos los El Salvadoreños.

[@MrManidos]

It's refreshing to see a ruler who is inspired by the future and not by the past like so many are

[@andyb4863]

Some of Mr. Bukele's points blew me away. You really never stop learning about Bitcoin, no matter how many years you study it!

[@bmpereira]

I wish I had a President like this in my European "advanced" country.

[@usercos187]

in our european 'democratic' countries (where leaders do what they want without asking the population, often against the interests of the people)

[@Luke-cj7gz]

More passion and sincerity than any other modern day 'politician'.

[@c.p.1090]

Wow. Nayib. Is so awesome. Cool calm and collected and knowledgeable. El Salvador 🇸🇻 is truly lucky to have an visionary like him.

[@Felipe_Porto786]

I wish we had a decent president like Bukele here in Brazil.

[@zenonvandeventer5229]

Can you imagine what the world would be like if every president in the world was like him.

[@truthmonster3290]

bolsonaro is awesome.

[@guilleta7000]

Bukele is a great visionary. Thank you for once again great content.

[@BravoBot_com]

What an awesome president!

[@theotherguy6155]

because he did something you like? there are some red flags in this interview - he has no idea how wide spread the usage is he talks about saving on fees, but converting fiat to BTC incurs a fee. Not to mention there is going to be a conversion differential between when you convert it, and it's current worth he says 90% of businesses still not accepting btc and the biggest problem yet - people are only asking him how it's going in the country. why is there ZERO boots on the ground asking the locals if they care about this adoption.

[@lpfakename9104]

@@theotherguy6155 valid points

[@alisherjukenov4311]

Protect this man by any means. He is standing up not just for people in El Salvador but for all the people around the world!

[@LearntoMakeHonestMoneyOnline]

I'm a simple man. When I see Bukele's face, I CLICK PLAY! 💪 Let's Go! 🔥

[@zenonvandeventer5229]

Very funny because me too

[@victoriabercian2928]

He’s amazing! He’s changing El Salvador, people are happy and enjoying life now . He’s the whole package . He’s smart, Brilliant , fabulous, and handsome.

[@Plenny33]

History in the making. Great interview. Thank you!

[@christinewillis7545]

Awesome interview. Brilliant, far seeing President determined to lift his people out of poverty. Although I have no idea about the Politics of El Salvador, they are lucky they have a brave leader that will jump through hoops taking on The World Bank, IMF and the rest of that bleating pack of media misinformation. So glad to see you get behind to support Bukele along with the rest of the BTC Community. Respect from New Zealand.

[@laotouthinking9090]

What an inspirational leader! Making meaningful changes for the better of his people. A visionary deserving of respect

[@serouya2000]

We need u in America wish all our politicians were as open and honest and sincere as u

[@ninjasaturn6265]

No script, no key phrases on paper, just real straight talking Nayib is genuinely smart and working for his country he is not reading like some puppet, wish my country had a leader like this

[@AHofmann25]

Damn what a leader! I have never seen an American leader who cares this much about his people.

[@yaroncohen9513]

Sounds very smart and Honest men! And brave! God bless him

[@snarlysausage4604]

Viva El Salvador, looking forward seeing the progress

[@kimgibson-newton9578]

Now that's a brave leader. Full support Nayib Bukele. Thank you for your courage! Gives me hope for the future

[@quitaddiction4589]

One of the greatest presidents ever, and immense courage for his people as well as serving the world

[@jordanw2009]

How is this not have millions of views… this is much more important than a shooting.

[@shipoffulls]

I am in awe of this man. An absolute genius, bold enough to produce incredible results.

[@BeardyDay]

You don't lose if you don't sell, good one Mr. President!

[@TanyaHarrisLifeAlignment]

With this man's leadership, el salvador is one of the few countries that has hope for growth! It serms like they are spiraling steadily upwards! I will be moving there in the next few years.. my country, South Africa, is unfortunateky on a major downward spiral with infrastructure, services and economy going down rapidly now. The government is owned by international players who dont care about SA 😔 so there is very little hope for recovery.

[@9trogenta13]

With the crazy inflation, recession, risk of war and food shortages, El Salvador is a ray of hope. The world is taking note.

[@flowbrandz316]

Ready of hope indeed.

[@basedinliberty9322]

If the ANC loses the next election we could have a coalition government taking its place. So there may be hope. I'd wait another 5 years to see how it plays out before leaving

[@zenonvandeventer5229]

@@basedinliberty9322 The government will not drop the racism that is affirmative action and are hurting the poorest of the poor most and empowering the richest of the rich the most with it. A policy of death penalty for any government official proven beyond reasonable doubt to contribute willfully towards corruption is the only way to resolve the problems not only in SA but in the world. That together with bitcoin! ;)

[@frankbenitez101]

Wow, the more I hear this young president speaks, the more I wish I move to el salvador. Seems honest and sharp. 👍

[@jgreen6139]

Love this guy, have a feeling he will go down in history as one of the great leader

[@terryparish7133]

Great leadership a beautiful country and people wanting prosperity I am very interested in maybe buying a home there soon

[@drinks777]

Incredible interview. Incredible President. Well done Peter

[@michaelmast_nomadicthrive]

Epic conversation! It really is amazing how heads of state are giving quality KZbinrs direct access... And I really admire the fact that he was willing to sit down for such a long interview. That is really rare for Presidents of countries who have 15 minute meetings all day long. Amazing work, keep up the killer content!

[@psoidonym2389]

I had the same thoughts. Amazing, that there are some heads of states an corporate CEOs, who do that. Fantastic development.

[@poboydoteth7636]

I didn't spot any cuts, and the questions were NOT softballs. He dealt with criticism well, knowing that most viewers are probably Bitcoin-first types. Either way, compelling evidence against the authoritarianism none-the-less. He doesn't seem unhinged or like an ego-maniac. He seems very well spoken, and ideologically agrees that disrupting is tough, but the early adopters get rewarded the most. For El Salvador's sake, and his, I hope he's right. Also my bags. :)

[@user-DongJ]

Long live President Bukele! May the good people of El Salvador enjoy great peace, progress & prosperity for Ten Thousand years! 🙏

[@Irvin3986]

He doesnt like giving reporters or news his time of the day because they alter information to their own benefits, he likes to impact through direct sources like influencers and his personal social media

[@saurabhdhall1]

Awesome, just awesome 👍 to see a President sit down with a podcaster from Bedford and lay out his vision. Being an Indian, I wish for leaders in the Government and Finance circles to learn even HALF of what Nayib knows. If Nayib can, India can most certainly be Bitcoin's beacon in the years ahead!

[@solonyetski]

Heck yeah, go India

[@Robsamuel]

Damn Nayib is a smart smart man.

[@anthonysmith2195]

Bukele will end up doing so much for his country. We need more leaders like him.

[@palushvatiqi7035]

Don’t STOP 🛑 NOW! Keep it going Mr. president of El Salvador.

[@othmaneen.6913]

This is RIGHT HERE guys, IS A SAMPE OF OUR FUTURE RIGHT IN FRONT OF OUR EYES.

[@jpwales7398]

Pete is becoming a legitimate journalist

[@torre3964]

Journalist? You interview a head of state and show up in a T-shirt? Classless.

[@bentaye]

Imagine seating with Emanuel Macron for 1h. That would be torture.

[@usercos187]

macron who ordonned to shot and gaz workers (yellow vests) in the streets in 2018-2019, and ordonned to gaz anti lockdown anti pass protesters in 2020-2021-2022. to preserve 'democracy' and 'freedom' 😅

[@1rsheridan]

As a South African citizen how I wish and pray we had a president like Bukele!!

[@PeeedaPan]

this guy is a real leader

[@Jimmybob21]

Wow wasn't expecting this on a Wednesday morning 🤗👍

[@Jimmybob21]

Never wanted a country to succeed so badly!!!

[@fdmello]

Brilliant series Pete. Keep it up. This is journalism.

[@bitcoinguerilla]

Nayib buckele is such a humble and lovely human being. Fuck everyone who’s talking bad about him. We‘ll always be behind you, nayib. ✊🏼

[@H3nryg]

Great interview!! Definitely added On the Bitcoin archives!!

[@dltsabatino]

The payment processor charges 5% interest for 1 second. Vendors are waking up to this fact.

[@likeuvid]

he is a really interesting figure. young progressive and likeable with bitcoin adoption, etc. also powerful and creepy statesman with how he is cleaning up with the gangs. zoning in and out between talking like a dude and a leader. very entertaining. thank you!

[@1ntrcnnctr608]

entertainment - that’s what it’s all about, for the emperor AND the pleb. imagine understanding how the UTXO model works.

[@martiangulele5210]

What a wonderful leader. In fact, I can confidently say that Bukele is one of the smartest presidents of our time, and one that will not only change the trajectory of a whole nation but will also change the whole world.🌎 You're not only changing millions of lives Mr president but billions. I'm praying for other Presidents to learn from you but it looks like most of them are busy patrolling people's finances, lol😆 Salute, from Mozambique.😅

[@nicsheppard]

We expect the same from every politician. Side stepping questions, self preservation, negativity, opposition bashing etc. For the first time in my lifetime I’m watching a politician who cares about his country and people. Who answers questions and gives his opinions. I hope young politicians worldwide are taking notes.

[@rolliepolitics]

We love our president! Besides his words there are the facts of real change prompting 91% of Salvadorans agreed with the way he rules the country!

[@av8rmonkey362]

I think the President is a hero to his country. Really like him, Great interview. Thank you.

[@sluggo3slug]

This is a moment when Peter is at his best.

[@MAVERICK-ti1hm]

Great interview, so refreshing from the main stream media rubbish !

[@2idem338]

thank you to you and to this incredible president

[@dawnfirephotography]

Awesome to hear him speak about all of this. Thanks Peter

[@hearliam]

I wish we had a leader like him in Australia, what an amzing leader.

[@CHHSFans]

So floored with his intelligence.

[@cryptolover827]

Wow, outstanding interview! Thank you for sharing, looks like we are heading ion the right direction ;D

[@MM-nw6bx]

Love this great legend, leader.

[@jonathanwalsh1763]

Great conversation. It’s easy to take for granted how that difficult that could have been at times. really interesting

[@sandymilne224]

With Bitcoin dropping in price, it’s cheaper for him to buy more, and more costly for people that own it to now have to sell it, but after the global depression, things will resume and bitcoin will suck up more attention and value. I respect this man even more after watching this video. Thanks Pete!

[@madden12]

you still count bitcoin to dollars

[@germaine4032]

What a great interview. I feel like we're starting to get to know the man and I'm getting real positive vibes. I hope he's the genuine, honest and caring person he comes across as. I hope his ego is so big he wants to go down in history as the saviour of his people and the patron Saint of Bitcoin. I also hope other countries move as fast in Bitcoin adoption.

[@bunrisl]

Choice will always do its brilliant work! Having the USD available allows people to take the time they need to learn how bitcoin works and its advantages and feel comfortable. The "kraken" has been already been released and even if the gov't goes down, bitcoin is now , already in the "hands" of people indefinitely.. This is the genius of bitcoin and genius of Bukele.

[@denissego8554]

Thank you both

[@ritteradam]

For some time I didn’t understand why Bukele built a vetenary hospital where people can pay with the Chivo wallet, but now I think it was a genious move. Even people who don’t care about Bitcoin at all know Nayib Bukele as the president who made a free hospital for animals, and a lot of people care about that (especially people who don’t care about Bitcoin).

[@zedzed5276]

I think they should focus on volcano bitcoin mining.

[@ritteradam]

@@zedzed5276 They tried, but it is capital intensive, and there was not enough interest in the Volcano bond

[@MacMyKitty]

@@ritteradam You'll eat your words

[@CorwinYoutube]

Peter! Excellent, thanks for all you do for our community. BTC is the future.

[@ijoelmelgar]

That's my president! I got into crypto in 2020. I never thought that my country would be a huge part of this movement. (El Salvador "The savior") God places kings in the seat of righteousness.

[@wizefinance9440]

happy to see His faith in bitcoin hasn't wavered a tad from last interview!

[@krisnaxi]

Thanks Pete and Danny. Looking forward to getting an update interview. ...please.

[@its4you984]

El Salvadorians should make youtubechannels and show a qr-code so that we can send them bitcoins. We could see how they live and how Bitcoin is moving on and we could send them Bitcoins to push their economy, even if it's little by little.

[@robtmil51]

In Peter's movie there is a guy helping addicts, I'd like to send him some btc but he didn't publish any addresses

[@icecoldchilipreppers]

Finally someone using political persuasion for good! What a pro! He's gunna do it! We gunna make it!

[@ZaksVillage]

who else is moving to El Salvador? i love this man.

[@wholeness]

The Legend Clean to 🤵🏽

[@MM-su9ew]

All great news!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! FREEDOM

[@mkmstillstackin]

Excellent interview, both the questions and the responses. Thanks!

[@rolliepolitics]

We love our president! Besides his words there are the facts of real change prompting 91% of Salvadorans agreed with the way he rules the country!

[@Madgistr8]

great video. good production value. strong interviewing skills. Bravo Peter and Danny

[@NoName-oj5pl]

I love you brother! AMAZING VIDEO!

[@kurtjensen5798]

Great interview, well done Peter!

[@antoniocardoza9364]

Awesome interview!!! Great job dude!👏😊💪👍✌️⛱️🇸🇻...

[@APC-pm2on]

Bukele is young and risky.. but at least he's trying to make a change, unlike 99% of all other world leaders so I do respect him for that!

[@deathmetaldxb]

Brilliant interview!

[@PhilipMourinhoMorris]

Why can I hit the like button just one time on videos like this?🤔😁

[@jobosan4855]

Epic! First rate interview Peter.

[@tarounnapaul6947]

He’s a very intelligent man and a great leader..

[@bytemoney5655]

This is craazy History in the making

[@drDantes]

I find it very suspicious that closed captions are unavailable; does google wanna hide this from the world?

[@hugoreyes4784]

Great interview 🇸🇻🚀

[@omadoutlaw4868]

We can be part of the solution or be part of the problem! Thanks El Salvador!