El Salvador President Nayib Bukele Calls Off Bitcoin 2022 Conference Appearance

In a letter on Wednesday, Nayib Bukele, citing “unforeseen circumstances” in El Salvador as requiring his full presence, announced the cancellation of his participation in the Bitcoin 2022 conference in Miami.

  • The likely culprit: His country is currently in a fierce battle against criminal gangs, known as “maras.” On March 27, 62 people were killed in murders attributed to a local mara, prompting El Salvador’s Legislative Assembly to suspend constitutional rights for 30 days.
  • According to El Salvador’s National Police, 6,894 gang members have been arrested in the last 11 days.
  • In his letter, Bukele said he had the “sincere hope” of participating to make “another announcement, another small contribution in our fight for the liberation of money.”
  • It was at the Bitcoin 2021 conference last June that Bukele announced his plans to make Bitocin (BTC) legal tender in El Salvador. As for this year’s announcement, expectations ran the gamut, but one likely candidate was a progress report on the country’s plans for the sale of $1 billion in Bitcoin bonds.

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