Michael Sailor, co -founder of Microstrategy (now It was renamed to the strategyAnd bitcoin DefendI recently held a meeting with President Nayb Boulevad from El Salvador to trade in strategies to enhance Bitcoin’s adoption in the Central American country.
Meeting It indicates a continuous dedication to merge Bitcoin In the country’s economy, in light of the pioneering El Salvador placing on the encrypted currency.
Tweet Silor during the weekend about their discussion. He drew attention to the fact that El Salvador can benefit from Bitcoin’s expansion in other ways.
A new stage in the experience of bitcoin Salvador
In September 2021, El Salvador became the first country to legalize Bitcoin. During that period, the country released bonds supported by Bitcoin currencies, attracted encrypted entrepreneurs, and worked hard to develop the city of Bitcoin, a technical economic center. Over the years, Bukele has announced several Bitcoin acquisitions for national savings.
yesterday, nayibbukele A wonderful discussion about El Salvador’s opportunities to benefit from the adoption and acceleration of the global bitcoin. pic.twitter.com/beramvwgdn
Michael Saylor (Saylor) February 14, 2025
El Salvador acquired 6,077 Bitcoin, equivalent to more than $ 600 million. Since the Bukele statement in November 2022, the nation has been loyal to its commitment to purchase one Bitcoin every day.
Silor’s visit indicates development. He praised the leadership and integration of Bitcoin in El Salvador without providing details. The meeting is another indication of the continuation of the institutional interest in the bold encryption experience in the country.
Challenges and amendments to Bitcoin Policy
El Salvador had to make some adjustments even if he was very passionate about Bitcoin. The government has amended its laws to ensure an international cash fund loan (IMF) of $ 1.4 billion. This included reducing the compulsory bitcoin acceptance of companies and limiting the participation of public sector in activities related to bitcoin.
Bitcoin market cap currently at $1.93 trillion. Chart: TradingView.com
Bitcoin’s economic effects in El Salvador
Bitcoin’s introduction sparked a discussion about its actual economic benefits. Although El Salvador has gained global attention and is known as a friendly country of encryption, the expected increase in financial inclusion and foreign investment has not yet occurred to the extent that some have been hoped for.
However, bitcoin remittances still have a major impact because the nation has obtained millions of dollars via Bitcoin, which reduces transactions fee compared to more traditional transfer companies. The government still believes that the acceptance of Bitcoin will have long -term and important advantages.
What is the future of bitcoin in El Salvador?
Visiting Silor can be a sign of the next things, such as the ability to bitcoin or relationships. As bitcoin grows all over the world, El Salvador remains at the forefront of integrating cryptocurrency into the national economy.
Although the problems are still present, the fact that Bokille and supporters of Bitcoin are known like Silor are working together that the country will not give up its Bitcoin project anytime soon.
Distinctive image from Gemini Imagen, the tradingvief chart
