Michael Saylor, co -founder of Microstrategy (now has changed to a strategy) and Bitcoin spokesmanHe recently convened a meeting with President Nayib Bukele from El Salvador to consider the strategy to promote Bitcoins in Central America.
Meeting indicates the constant dedication of integration Bitcoin to the country’s economy, in the lightweight of the pioneering attitude of El Salvador on cryptocurrency.
Saylor wrote on Twitter on the weekend about his discussion. He pointed out that Salvador can apply Bitcoin’s expansion in other ways.
Modern phase in the Bitcoin experiment in El Salvador
In September 2021, Salvador became the first country to legalize Bitcoin. During this period, the country issued bonds supported by bitcoins, attracted cryptocurrencies and worked challenging to develop Bitcoin City, economic technology. Over the years, Bukele has announced various Bitcoin government acquisitions for national savings.
Yesterday, @Nambleshakes And I had a great discussion about the possibilities for El Salvador🇸🇻 to take advantage of and accelerate the global reception of Bitcoins. pic.twitter.com/beramvwgdn
– Michael Saylor⚡️ (@Saylor) February 14, 2025
Salvador purchased 6077 Bitcoins, which corresponds to over $ 600 million. From the Bukele statement in November 2022, the nation was faithful to its involvement in buying one bitcoin every day.
Saylor’s visit suggests development. He praised the leadership of Bukele and the integration of Bitcoin Salvador without providing details. The meeting is another sign of further institutional interest in a bold cryptocurrency experiment.
Challenges and modifications in Bitcoin policy
Salvador had to introduce some corrections, even if it is very invigorating bitcoins. The government modified its regulations to guarantee a loan of the International Monetary Fund (IMF) in the amount of $ 1.4 billion. They included a reduction in the mandatory acceptance of Bitcoins for companies and limiting the public sector’s involvement to bitcoin activities.
Bitcoin market cap currently at $1.93 trillion. Chart: TradingView.com
Bitcoins economic implications in El Salvador
The introduction of bitcoins caused a debate on the actual economic benefits. Although El Salvador has gained global attention and is known as a cryptocurrency -friendly country, the expected augment in financial inclusion and foreign investment has not yet occurred to the extent that some were counting.
Despite this, Bitcoins cash messages remain a significant influence, because the nation has received millions of dollars via the Bitcoin network, which reduces transaction fees compared to more conventional transfer companies. The government still believes that the acceptance of Bitcoins would have long -term and significant advantages.
What is the future of Bitcoins in Salvador?
Saylor’s visit can be a sign of upcoming things, such as the possibility of more projects or relationships supported by bitcoins. As the Bitcoins increases around the world, the El Salvador remains at the head of the inclusion of cryptocurrency in the national economy.
Although there are still problems, the fact that bukele and well -known supporters of Bitcoin, such as Saylor, work together, shows that the country will not give up the Bitcoin project in the near future.
A distinguished picture from Gemini Imagen, chart from TradingView
