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The ‘world’s coolest dictator’ dreams of a Bitcoin utopia. But there’s a price

Many Salvadorans have a different story to tell about the ‘Bukele miracle’ – so why did they vote to re-elect him?

The ‘world’s coolest dictator’ dreams of a Bitcoin utopia. But there’s a price
Bukele’s dream of a Bitcoin bonanza is threatening deprived communities | Jose Cabezas/Bloomberg/Alex Peña/Getty
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MORAZÁN, EL SALVADOR — Salvadoran street vendor Maria* earned just $10 selling sweets and handicrafts today – a particularly bad day. It’s half of what she usually gets: $20 on average; $25 if she’s lucky.

“Sales are not good. There is tourism in the area, but people don’t come to the village,” she tells openDemocracy in the square of Osicala, a small municipality in Morazán, eastern El Salvador. It’s a four-hour drive from San Salvador, the capital, on a winding road interspersed with volcanoes and fruit stands. It’s also 110 kilometres from the slopes of the Conchagua volcano, where president Nayib Bukele has promised to create Bitcoin City – a tax-free, smart city bonanza.