El Salvador seems to be small potatoes compared with coins that other countries get through various seizure practices.

There is a list of government holdings in this article:  https://river.com/learn/who-owns-the-most-bitcoin/

Just yesterday there was an announcement of between $2 billion to $3 billion coins through UK authorities (61k BTC) and also from German Authorities (50k BTC)

Look at these announcements:


https://www.coindesk.com/policy/2024/01/31/uk-police-seize-nearly-18b-of-bitcoin-from-investment-fraud-in-china-ft/

https://www.dw.com/en/germany-police-seize-bitcoins-worth-2-billion/a-68121384

I think that currently there are still many El Salvador citizens who like Nayib Bukele and his commitment to maintaining Bitcoin as a future investment asset that can be used in the lives of its own people. Because everyone will probably assess and see how the state of El Salvador developed while being led by President Nayib Bukele. So there is a possibility for Nayib Bukele to win again in this election if the trust of his own citizens is still very high in him in terms of returning to lead the country of El Salvador.

Félix Ulloa addressed a whole lot of issues about El Salvador including the fight against gangs and crime. He acknowledged that the government made some mistakes in arresting some innocent citizens. But these mistakes are gradually been corrected with over 7000 people released from detention and others still going through legal processes to gain freedom.

Regarding the continuation of Bitcoin policy in El Salvador, he stated that it is a done deal. The country is not abandoning Bitcoin as a legal tender regardless of the pressure from the IMF about the $1.3 billion loan negotiations. He gave an example of the US institutionalizing Bitcoin through the approval of Spot Bitcoin ETF, which is an indication Bitcoin is now a force that cannot be overlooked.

I think the name Nayib Bukele is not only popular with the people of El Salvador but this name is known and popular with people all over the world who know about Bitcoin. El Salvador will probably have presidential elections on February 4. We hope that Nayib Bukele will definitely win this election as his popularity is highest And the people of El Salvador like Naib Buckle's promise to maintain Bitcoin as an investment asset for the future.

You can understand how popular Nayib Bukele is among different Latin American countries and different presidents.

picture X

This image Said that Nayib Bukele will be re-elected as President of their country and Bitcoin's progress in El Salvador will be much more widespread.

I think the statement of Felix Ulloa who served as Vice President El Salvador to commitment to Bitcoin will be seen as a political statement by the opponent as an effort to seize the sympathy of the parties who are pro to Bitcoin in El Salvador.
If I am and live in El Salvador, I will be together in the ranks of people who support Nayyib Bukele's policy because from my perspective, El Salvador was successful in the investment field.

In addition, the current view of the El Salvador government can be accepted by common sense if they remain firm because the potential investment of Bitcoin will be more intense after ETF is approved.
I see the IMF too much about El Salvador's government policy towards Bitcoin.
However, the statement of Felix Ulloa is in accordance with the fact that maintaining Bitcoin is something that can bring positive values in the eyes of the world.

Continue ... Nayib Bukele.

Yes, the elections are going to be this Sunday. Yes, he is going to win...

Now, no, if you to believe the story that bitcoin influences his reelection. Bukele enjoys popularity for his management as president in different social-economic-security areas, etc. and those referring to bitcoin are in the background, that is a palpable reality, the 4-year stretch for his next mandate is really uphill to move forward, the bonds, the bitcoin city, mining, and especially investors.

It will be very difficult to get comprehensive data about the inflow of Bitcoin into El Salvador because some transactions will be anonymous and might not be easily tracked. The only data that can be accessed is through centralized platforms which will not be reliable. The move by Bukele has attracted some crypto firms into the country which has also created employment opportunities. There has also been an increase in tourism and Bitcoin remittance. Of course, there has been an increase in El Salvador's Bitcoin hodling because they are still buying more Bitcoin and have also started making a profit from their past purchase.

The only similarity between these two events is that they promote Bitcoin. They lead to Bitcoin awareness and adoption but they are different. El Salvador is a country that made Bitcoin a legal tender which means that it is now a currency that is backed by the law that must be accepted for financial transactions. However, the ETF is the US SEC approval for people to invest indirectly in Bitcoin. It is an approval that a firm can manage people's Bitcoin.

Yes.. remittances might need to be self-reported.. and that might not be reliable.. but if there is a shrinkage in the remittances services, then maybe some of those people are using bitcoin to remit.


Sure each of them likely put upwards price pressures on bitcoin for different reasons... various forms of legalization and bitcoin recognition could also lead to other governments going down similar paths... and so surely we could talk about government by government acceptance of bitcoin, and sometimes there are also countervailing measures happening simultaneously, including the recent (likely unlawful and overreaching and oppressive) mandate in the USA that miners have to fill out an invasive survey about various details of their operations...so even within various administrations there can be a lot of contradictions, even though it seems that a clear creation of a legal tender law should be considered somewhat unambiguous in terms of welcoming bitcoin at the transactional and also the direct holdings level.. yet even ETF approval is not directly acknowledging anything about direct holding of bitcoin, even though bitcoin's value does come from abilities to directly hold it and transact with it without getting permission of governments and/or any third parties...so the level of tension in regards to rights involving directly holding bitcoin are not unambiguous and likely contributing to many folks not recognizing and appreciating a lot of bitcoin's power comes through the various direct holding mechanisms... even if sometimes there also might be interactions with custodians and other kinds of third party players who may or may not put obstacles in the ways to directly hold and/or transact with dee cornz..

El Salvador has been made Legislative Assembly approved a bill proposed by President recognize Bitcoin as legal currency alongside the US dollar.The law mandatory that all businesses in the country must accept bitcoin as a form of payment but the government has also provided mechanisms for converting bitcoin to usd instantly if they needed. They has launched the chivo wallet that government-backed digital wallet to facilitated Bitcoin transactions and provided citizens with $30 worth of its upon registration.
significant international attention and debate regarding the potential implications, benefits and risks associated with using bitcoin as legal tender in a national economy.

Nayib Bukele the current President of "El Salvador" Nayib Bukele adopt Bitcoin as legal tender. His courageous decision bitcoin and related digital currency has become a powerful stage. In the world some of the legendary people has born and they have to tried to change the society. He is one of them.
Nayib Bukele is a legend of bitcoin family and his thinking about it inspired us and will be inspire in the future generation.This is one of the significant for bitcoin future.