Following the  El Salvadoran president’s efforts to revolutionize its digital economy by making Bitcoin(BTC) legal tender in the country, protesters burned a Bitcoin ATM to show their undying protest against the leader of their country. One of the 200 Bitcoin ATMs that has been installed, in line with the government’s acceptance of Bitcoin, was also vandalized with anti-BTC logos and statements that “democracy is not for sale.”

Protesters, who call themselves the Rebellion Block and the Popular Resistance, marched their way to the country’s capital, San Salvador, wielding placards with slogans such as “no to dictatorship” and “Bitcoin defrauded us.” Reports even claim that protesters burned furniture in the plaza, urging the mayor of San Salvador, Mario Durán, to immediately pull workers out of the area, in order to prevent casualties. 

Although President Nayib Bukele claims that he only wants to normalize having Bitcoin machines in the country, and is not forcing anyone to use Bitcoin, the resistance believes that Bukele is just abusing his political power, because alongside this strategy, Bukele has also ruled out the making of a law allowing a president to only serve two consecutive terms. Daniel Lizárraga, a Mexican journalist, described Bukele as a powerful man who does not accept criticism, and included him on the Time’s List of the 100 Most Influential People. The journalist even reported that President Bukele threatened the country’s parliament, to force them into approving his budget. Lizárraga was subsequently expelled from El Salvador. 

Even though these scenarios show that most El Salvadorans oppose the use of Bitcoin, it is clear that the main reason why many of them believe that the President’s plan is not suitable for the country, is not because of Bitcoin itself. At the time of writing, the BTC was bullish and breaking above the $47,777 Pivot Point.