PANews reported on August 30 that according to The Block, Salvadoran President Nayib Bukele passed a bill to make Bitcoin a legal tender in the Latin American country, and he said that this monetary experiment has achieved mixed results so far. Bukele was asked in an interview with Time magazine whether Bitcoin monetization has been "successful". He said: "Bitcoin has not been widely adopted as we hoped. Many Salvadorans use it, and most large companies in the country accept it. The positive side is that it is voluntary; we have never forced anyone to adopt it. We offer it as an option, and those who choose to use it have benefited from the rise of Bitcoin. I certainly expect it to be more widely adopted, but we have always been proud to be a free country, free in all aspects."

Bukele noted that "those who saved in Bitcoin" have likely made a good return now that the price of Bitcoin is back near its all-time high. "I wouldn't say it's the currency of the future, but it has a big future," Bukele said, noting the growing footprint of Wall Street firms in the cryptocurrency industry and Bitcoin becoming a campaign issue in the U.S. election. Bukele said that despite limited success in domestic adoption, Bitcoin has improved El Salvador's "brand image," attracted foreign investment and led to a surge in tourism. Several Bitcoin companies have offices or headquarters in the country.