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El Salvador’s president Nayib Bukele is going all in on bitcoin, but his country is not. Much of the population lacks bank accounts and internet connections, according to investigative journalists Anna-Cat Brigida and Leo Schwartz in this revealing report, and high volatility, error-plagued technology and an infrastructure ill-suited to such a venture have only confounded the nation’s push to make bitcoin an official currency. This real-world experiment in sovereign cryptocurrency may have gained the president global renown, but Brigida and Schwartz note that his country’s growing debt crisis may help explain his crypto fervor.
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About the Authors
Anna-Cat Brigida is a freelance journalist located in Central America. Based in Mexico City, Leo Schwartz is a reporter with Rest of World.
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