Strategy consultant at investment management company VanEck, Gabor Gurbacs, believes that El Salvador may follow Singapore’s model and become a financial hub in the Americas. Gurbacs on a twitter post stated: “I say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore
The Volcano Energy initiative in El Salvador, in conjunction with Lava Pool and Luxor Technology, has built the country’s first local Bitcoin mining pool. Bitcoin-friendly El Salvador is planning to produce electricity from renewable sources to support future Bitcoin mining operations, and the country’s $1 billion renewable energy initiative grabbed
El Salvador’s Ministry of Education collaborated with the non-profit group Mi Primer Bitcoin (MPB), to include Bitcoin teaching into the national curriculum by 2024. MPB’s founder, John Dennehy, has stated that the initiative is a Ministry of Education initiative. And that MPB is contributing to it together with Bitcoin Beach.
When El Salvador began accepting Bitcoin a few years ago, it drew criticism from prominent financial institutions. However, Bonds issued by the government of El Salvador have risen in value recently, and large financial institutions such as JPMorgan, Eaton, and PGIM can no longer afford to ignore this trend. El
President Nayib Bukele of El Salvador has hired Saifedean Ammous, who wrote The Bitcoin Standard, as an economic advisor for the country’s newly established National Bitcoin Office. According to a Bitcoin office statement, the author’s responsibilities include advising on matters concerning various economic policies and advocating for Bukele’s policy of
According to El Salvador’s minister of tourism, the nation is seeing an all-time high in the number of visitors. The statement is part of a larger PR push by the Central American nation to change its image from one of a lawless backwater to that of a Bitcoin and surf
The country of El Salvador, located in Central America, has demonstrated a steadfast commitment to and prominent achievements in the realm of cryptocurrency. Recently, Bitfinex Securities took to their Twitter account to announce that they have been granted a license to operate in El Salvador, which has made history as
El Salvador is obviously focused on technological improvements as the rest of the globe contends with banking and other economic issues. Consequently, President Nayib Bukele intends to do away with all taxation related to technological development. Income, property, and capital gains taxes, as well as tariffs on imported goods on
President Nayib Bukele of El Salvador introduced legislation on June 5, 2021, that would recognize Bitcoin as legal money in the country. Since then, El Salvador has been the pioneer in officially recognizing Bitcoin as a legal tender. That was the first time in history that a government had officially
While the International Monetary Fund (IMF) ‘warned El Salvador’ against boosting the government’s involvement with Bitcoin (BTC), the Central American country plans to open a second “Bitcoin Embassy” in Texas after establishing its first one in Lugano, Switzerland. According to a Twitter post from Milena Mayorga, El Salvador’s Ambassador to
