The National Costume competition is one of the most anticipated highlights of the Miss Universe competition. This portion lets candidates from each country to creatively demonstrate their culture and heritage.
At the preliminary Miss Universe event in New Orleans, Alejandra Guajardo, El Salvador’s candidate, was seen wearing costumes depicting various currencies from the country’s history, including Bitcoin.
Bitcoin On The Spotlight At Miss Universe Pageant
The Miss Universe pageant is a highly anticipated global event, and the Central American nation used the chance to showcase its affinity for the original cryptocurrency.
El Salvador became the first nation to recognize bitcoin as legal tender in 2021.
Guajardo’s costume was created by Salvadoran designer Francisco Guerrero, according to the El Salvadoran news website El Salvadorgram.
According to the report, it is a custom piece for the Miss Universe pageant that depicts the growth of El Salvador’s money from its poor beginnings to its current state.
The competition involves around 90 stunning women from all across the world. The preliminary event for the 71st Miss Universe kicked off on January 11, 2023 in New Orleans.
El Salvador embraced Bitcoin during the golden age of cryptocurrencies, the second quarter of 2021.
Bitcoin And The Miss Universe: Beauty And The Crypto
Bitcoin takes center stage during the preliminary night at the Miss Universe event, bringing together cryptocurrency technology on stage with the some of the world’s beautiful women.
The Miss Universe El Salvador candidate represented her country’s push for widespread adoption of the crypto as other delegates donned their own cultural symbols crafted by renowned fashion designers.
Meanwhile, the Bitcoin price reached a record high of $68,790 on November 11, 2021. As of writing, Bitcoin is trading at $18,835, up 12% in the last seven days.
In 2022, the market capitalization of cryptocurrencies surpassed $1 trillion. Compared to the previous year, the market valuation increased by 67.35%.
El Salvador approved a law on Wednesday that regulates the issuance of digital assets by both governmental and commercial enterprises.
The country’s president, Nayib Bukele, and the ruling party recommended the proposal to encourage domestic and foreign investment.
The act seeks to provide individuals, organizations, and the government with additional financing options.
The bill also sets the legislative framework for “Volcano Bonds,” or Bitcoin-backed bonds. The nation aims to use the bonds to pay off its debt and fund the creation of “Bitcoin City.”
Meanwhile, El Salvadorans are not very interested in Bitcoin. According to a study of 1,269 individuals conducted by the José Simeón Caas Central American University (UCA) in October, less than 25% of respondents used cryptocurrencies in the previous year.
Only 17% viewed the Bitcoin launch as a success, while 66% considered it as a failure. And 77% want Bukele to cease purchasing Bitcoin with public funds.