Alejandra Guajardo, El Salvador’s Miss Universe 71 representative, wore a bitcoin-themed outfit during the pageant’s National Costume Show on Wednesday night.
The currency ensemble was designed by visual artist Francisco Guerrero, but placed a special emphasis on the reigning king of digital assets. Guajardo carried a staff with the Bitcoin logo on top and a colón – one of the country’s previously accepted currencies – decorated with cocoa beans on his back.
“This look represents El Salvador’s currency history,” said the festival announcer. “Cocoa was used for a long time, then the colón until it was replaced by the US dollar.” And then, of course, came bitcoin.
Miss Universe El Salvador wore an outfit that showcased our country’s different currencies throughout history.
El Salvador is betting again #Bitcoin on the international stage. 🇸🇻 pic.twitter.com/EkZ1XlCl0c
– Herbert Esmahan 🇸🇻 (@HerbertEsmahan) January 12, 2023
El Salvador became the first country in the world to make Bitcoin legal tender in 2021. The move was met with widespread skepticism and concern from the global community, including the International Monetary Fund and the World Bank. US lawmakers have also sounded the alarm that El Salvador’s bitcoin agenda could lead to financial instability in the nation and weaken US sanctions policies.
Although Bitcoin’s price has fallen over 50% since the law went into effect, El Salvador President Nayib Bukele has remained a staunch standard-bearer for the digital currency. He has been involved in promoting numerous BTC adoption initiatives – although it’s unclear if he had a direct role in Guajardo’s choice of wardrobe for the pageant.
“You don’t need a sash to walk around dressed as cash, like El Salvador,” the pageant’s announcer said during the broadcast.
The model’s costume at last year’s pageant was dedicated to demanding justice for the women murdered in El Salvador. Bukele began mass arrests of civilians in 2022 to combat the country’s associated crime wave. The homicide rate in El Salvador has since fallen by 56%, according to the Bukele government.
Meanwhile, El Salvador on Wednesday passed its digital securities law, which provides a framework for strong consumer protections in the broader crypto market while “noting that we are open to anyone who wants to build the future on Bitcoin with us,” according to the National Bitcoin Office of the country.
It also paves the way for El Salvador’s so-called Volcano Bonds — a $1 billion bond issuance plan that will invest the proceeds in both buying Bitcoin and building its geothermally-powered “Bitcoin City.”