How El Salvador Became Latin America’s Comeback Story...

El Salvador has undergone a remarkable transformation under President Nayib Bukele, emerging as a beacon of innovation and resilience in Latin America. From adopting Bitcoin as legal tender to enacting sweeping fiscal and social reforms, the nation has defied global skepticism. VanEck recognized this potential early and made investments in Salvadoran sovereign debt. Despite the fierce rally in these assets, we estimate the nation’s just-issued 30-year bond is still priced 200 basis points cheap compared to its fair value, with projected returns exceeding 33% over the next year should spreads narrow to our target.

During our visit to San Salvador last week to meet President Bukele and speak at the “Adopting Bitcoin” conference, we re-explored the ambitious vision driving El Salvador's future as the "Singapore of Latin America."
Source Link: https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-how-el-salvador-became-latin-americas-comeback-story/

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Here is all the information about the work that El Salvador has done from beginning to end, but I think that the government of El Salvador, Nayib Bukele, is very wise because the role he is playing is the reason for the success of the country in all aspects.
You are challenging the issue that Nayib Bukele has tested the courage of Bitcoin and he has succeeded, this challenging is acceptable to the whole world. At present, he is the most successful and challenging in all the work he has done, he has risen to the top of success from his own experience.

Seeing this condition, Bukele should start thinking creatively. Perhaps Bukele can take some of the funds to make infrastructure that supports ease of accessibility to support the backwardness that is a problem for the government. Hoping on the stability of bitcoin to become money, don't happen. I don't expect Bitcoin to be stable. Basically I think Bukele can take policy, but in a halving cycle the price of bitcoin will not always be the same at the moment. So if you calculate the halving period, there will indeed be halving that may be skipped while still president. It seems that Bukele still hopes that there will be even better prices.

El Salvador's Bitcoin Worth >$600M



El Salvador’s Bitcoin strategy extends beyond reserves. There are plans for $1 billion “Volcano Bonds”, half of whose proceeds would buy Bitcoin, aim to fund the development of Bitcoin City, a futuristic economic zone powered entirely by geothermal energy. This city is designed to attract international investment and innovation with zero taxes on income, property, or capital gains. Additionally, the government offers a “Freedom Visa” program, which grants citizenship to individuals who donate $1 million to the nation’s development efforts.
Source link: https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-how-el-salvador-became-latin-americas-comeback-story/

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The government of El Salvador, Nayib Bukele, has made Bitcoin transactions tax-free, offered visas, and made arrangements for all people in his country, from adults to teenagers, to learn about Bitcoin. He has arranged for various schools to teach about Bitcoin, all of which are used only for the development of his country. All of this has been possible only through the adoption of Bitcoin, and El Salvador will move towards greater progress in the future.

Only Bitcoin investments cannot make El Salvador the richest country in the world in three decades and above. To achieve this feat, the country has to engage in diverse economic programs that will lead to diverse economic growth. They will have to tap into diverse natural resources that are available in the country.

The article you referenced also said that President Nayib Bukele invited Vaneck’s geologist to do research on the country's gold deposits. If they can keep diversifying their economy, the country has the potential to achieve strong economic growth.      

I definitely believe that El Salvador will definitely become a developed country within 30 to 35 years, I will highlight here from the beginning of their work to the current success. You will notice that in 2021, the government of El Salvador under Nayib Bukele declared Bitcoin legal tender and they started holding it.

1. In 2021, Bitcoin was declared legal tender and they began holding the first Bitcoins.

2. The government of El Salvador, led by Nayib Bukele, has worked the hardest to suppress terrorism and provide extensive benefits to tourists from various countries, and has created strict laws against terrorism.

3. El Salvador is teaching Bitcoin to all young people, from teenagers to adults, in various school institutions to educate the country's people about the currency.
4. He has made Bitcoin fee/tax free for the people of his country, where every citizen can transact Bitcoin at absolutely no cost.

El Salvador is taking the country to the roots of development in many other ways, I believe that Nayib Bukele will definitely be able to take the country forward. Because he is the best in his country at the moment and has taught about digital currencies, which I think is the most positive aspect.

Next up the IMF trys to tell President Trump not to own Bitcoin


The International Monetary Fund (IMF) remains critical of El Salvador’s Bitcoin experiment while continuing to work with the country.

According to Reuters, at a press conference on Thursday, IMF spokesman Julie Kozack stated that the IMF has suggested “limiting public sector exposure to Bitcoin”.

The IMF has been critical of El Salvador’s decision to adopt Bitcoin as legal tender since 2021, and these comments reflect their ongoing caution about the move.

El Salvador made headlines in September 2021 when it became the world’s first country to accept Bitcoin as legal cash. This approach, championed by President Nayib Bukele, has sparked controversy, with the IMF among the most vocal detractors.

The organization has repeatedly expressed worries about the decision’s possible macroeconomic, financial, and legal hazards, warning that Bitcoin’s volatility might disrupt the national economy.

However, it acknowledged in August that many of the hazards of the Bitcoin experiment “had not yet materialized.”

https://www.cryptotimes.io/2024/10/04/imf-urges-el-salvador-to-limit-bitcoin-exposure/

But El Salvador President rejects the IMF recommendation https://apnews.com/article/cryptocurrency-technology-business-el-salvador-san-salvador-4612c5008ba1e919d42bdf0724095c91 and with this we can see that Bukele slap their faces with reality that they can't control them and now he proves that they are right with their decision and IMF is wrong with what they suggest before.

If El Salvador follow what IMF recommendation for sure that they will be slave by IMF. But its good they choose to step up and now seeing the result of the efforts and trust they made for bitcoin. More success to come with El Salvador and those countries also institutions still doubts would regret once bitcoin reach new highs.

As I mentioned in an earlier post, El Salvador the country of Nayib Bukele, offered their first tokenized US Treasury. El Salvador has already managed to raise $30 Million through this tokenized treasury. El Salvador once again leads global financial innovation by raising $30 million through a tokenized offering.

The platform of El Salvador raises 30 million dollars through a tokenized offering of the US Treasury

One day, I hope we get the ability to use Bitcoin as collateral to take loans on like property, we are not selling it and then using that Bitcoin to get whatever it is you want

El Salvador’s Bitcoin Bet Pays Off as BTC Hits $102K, With 118% Surge in BTC Holding

https://coinpedia.org/crypto-live-news/el-salvadors-bitcoin-bet-pays-off-as-btc-hits-102k-with-118-surge-in-btc-holding/

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Today the price of Bitcoin has risen to a unique height and created a unique history. Today, the price of Bitcoin rose to touch above $104k. Such a high increase in the price of Bitcoin has caused El Salvador's Bitcoin holdings to increase by about 118%. The country has already bought a total of about 6000 bitcoins since Nayib Bukele legalized Bitcoin in their country, their bitcoins are now worth more than $611 million. Perhaps they have reached the pinnacle of success today with the adoption of Bitcoin. Over time, the more bitcoins they purchase, the more their investment portfolio will grow, and the more their investment portfolio will grow in value.