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BTC Bukel said that the 2008 financial crisis only shifted and did not really disappear. El Salvador continues to advance its Bitcoin adoption strategy. After the remarks, bitcoin traded at close to $63,765.
El Salvador President Naeb Buker once again criticized the global financial system, saying the world has never completely escaped the 2008 financial crisis. He wrote in a July 30 post on Platform X: "We never got rid of the 2008 financial crisis, just diverted the pain." This may not be popular, but we never escaped the 2008 financial crisis, just diverted the pain. -- Nayibbukele (@nayibbukele) July 29, 2026
This statement reflects Bukele's long-standing support for Bitcoin as an alternative monetary system. However, the comment did not introduce any new Bitcoin policies, purchases or government actions.
Bucker links Bitcoin to unresolved financial system issues
Bucker emphasized that the response to the 2008 crisis diverted financial stress rather than alleviated it. He pointed to policies such as monetary expansion, debt growth and financial intervention as reasons for continued concerns.
The 2008 financial crisis began with a real estate bubble created by years of low interest rates and loose lending standards. Banks package high-risk mortgages into investment products, and when borrowers begin to default, losses spread to global financial markets. Major institutions, including Lehman Brothers, were under intense pressure, and the bank filed for bankruptcy in September 2008. Since then, governments have introduced rescue plans and regulatory reforms to stabilize financial markets and reduce future risks.
Bukel used similar arguments to support El Salvador's Bitcoin strategy. The country became the first country to use Bitcoin as legal tender in 2021, viewing the asset as a fixed-supply alternative to traditional currencies.
El Salvador's Bitcoin strategy faces practical adoption test
El Salvador remains the leading case of government-backed Bitcoin experiments. The country has accumulated Bitcoin, promoted the use of digital assets, and launched measures aimed at attracting crypto companies and investors. Despite government measures, daily Bitcoin use remains limited compared to traditional payment systems. Many Salvadorans continue to rely on U.S. dollars and traditional financial services for daily transactions.
On July 30, 2026, the trading price of Bitcoin was close to US$64,084, rising 0.64% in 24 hours and falling 2.3% in the week. The overall crypto market sentiment is cautious, with the Fear and Greed Index of 36.
Bukel's news spread during periods of stable market volatility. The post represents his broader views on monetary policy rather than direct market events.
The president's comments sparked discussions about whether Bitcoin could serve as a long-term alternative to the traditional financial system. El Salvador's experience remains closely watched as policymakers and investors assess the relationship between digital assets and global finance.
