Bitcoins are now an important part of El Salvador’s currency plan. It worked. The country gambled on crypto and won. The country turned $135,000,000 into $400,000,000. El Salvador’s crypto-success story is a success that everyone wants to hear. They wonder if any other country will take the same step.
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El Salvador – Crypto Investments: $135M to 400M dollars
Bitcoin and President Bukele
El Salvador President Nayib Bukele spoke about the Bitcoin experience in El Salvador. It seems that less people are using Bitcoin than he expected. But he noted that large companies now accept Bitcoin. McDonald’s and other grocery stores as well as hotels are included.
The Government’s Response and How it Affects the Money
El Salvador’s government keeps buying Bitcoin. The government of El Salvador continues to buy Bitcoin. They are happy with their plan.
Now, their first $135 Million investment is worth $400 millions. Here’s El Salvador crypto’s success story.
Bukele claims that El Salvador’s Bitcoin funds is performing better than global big-funds. Bukele claims that it is now larger than BlackRock’s largest BTC fund. The fund was able to grow despite the fact that markets were unstable and people were worried about regulations.
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What other countries think and what’s next
It is important to note that the word “you” means “you”. International Monetary Fund (IMF) doesn’t like El Salvador’s Bitcoin plan. When they were talking about sending El Salvador money, this is what they said.
Bukele, however, is happy with El Salvador’s experiment in crypto. Bukele says that the IMF acknowledges Bitcoin’s success in El Salvador.
Bukele believes that BTC has more positives than negatives. He said that the number of tourists is increasing and more positive things are being said about his country. El Salvador teaches cryptography to 80,000 government employees. Bukele’s new perspective on crypto is what he wants to see more of!
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El Salvador continues to enjoy a successful crypto story. They have tripled the value of their BTC. Although not all citizens use Bitcoin, the government is still committed to it. El Salvador’s actions could influence other countries to adopt crypto.
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Source: watcher.guru