El Salvador’s President Nayib Bukele said he is canceling his participation in the upcoming Bitcoin BTC/USD conference due to “unforeseen circumstances” in his home country.
What Happened: The Salvadoran leader’s announcement was made in a letter shared by The Bitcoin 2022 conference.
Bukele said, “I will have to be on another flank in the battle for freedom, but my heart and the hearts of millions in the country I was blessed to be born in, will be with you during this celebration of humanity.”
See Also: How To Buy Bitcoin (BTC)
Why It Matters: El Salvador imposed a state of emergency after March 27, when 62 people were murdered — marking the most violent period in the country since the civil war of 1992, according to a report from BBC.
"While we fight criminals in the streets, we must try to figure out what is happening and who is financing this," said Bukele on the spate of violence plaguing the Central American nation, according to the BBC.
Salvadoran authorities reportedly said that MS-13 and Barrio-18 gangs are responsible for the homicides, as per the report.
Bukele shared homicide statistics, supplied by the Salvadoran police, ending April 5 on his Twitter.
El Salvador adopted Bitcoin as legal tender last year but the move also saw violent protests.
The four-day Bitcoin 2022 conference is taking place at the Miami Beach Convention Center in Miami, Florida, and is touted as the “biggest bitcoin event in the world.”
Speakers at the event include MicroStrategy Incorporated MSTR CEO Michael Saylor, Ark Invest’s Cathie Wood, PayPal Holdings Inc PYPL, and Palantir Technologies Inc PLTR co-founder Peter Thiel.
Price Action: At press time, Bitcoin traded 5.1% lower at $43,171.59, according to Benzinga Pro data.
Photo: Courtesy of Gobierno Danilo Medina on Flickr
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