According to AFP (by way of Milenio), Osorio, 39, went from unemployment to operating his personal firm in a interval of three years thanks to the adoption of BTC.
Osorio’s success with Bitcoin
Osorio revealed to the information company that he had 21 drivers working on your firm, BitDriverand had made sufficient revenue from fluctuations within the worth of BTC to purchase 4 rental autosHe additionally turned a vocal advocate for Bitcoin in El Salvador, the primary nation to grant BTC authorized tender standing.
Osorio stated that his firm was the primary taxi firm in El Salvador to settle for funds in BTC. He additionally commented that the success achieved with BTC allowed him to “stop struggling” to cowl the academic bills of his teenage youngsters. The American BTC advocate, John Dennehyfounding father of the NGO My First Bitcoininspired him to settle for funds in cryptocurrency. Since then, Osorio has joined this NGO, often known as My First Bitcoin in El Salvador.
Osorio not too long ago up to date his Instagram account with a picture of himself in a Salvadoran presidential workplace, indicating his exceptional skilled rise.
Criticisms and Challenges
Despite Osorio’s success, the AFP report included a number of criticisms of Bitcoin adoption in El Salvador. Laura Andrade, director of the University Institute of Public Opinion, famous that from the start “it was clear that (the adoption of Bitcoin) was an ill-advised measure that the population rejected.”
The report additionally highlighted that though Osorio had collected some wealth with Bitcoin, a current examine revealed that the 88% of Salvadorans had not but used cryptocurrency. In addition, the Salvadoran president Nayib Bukele has said that the federal government maintains round $400 million in Bitcoin in chilly (offline) wallets.
